A Status For Taxes - Part 1: Difference between revisions

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Revision as of 17:08, 17 September 2024

A credit is allowed for foreign income taxes paid or accrued. The finance is limited special part of Oughout.S. tax due to foreign source income. It's not at all refundable, but any excess credit could be carried to other years to reduce tax.

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B) Interest earned, though paid, during a bond year, must be accrued at the conclusion of the bond year and reported as taxable income for your calendar year in how the bond year ends.

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