Reply To: Foreign Tax Credit

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#2025
kaneohe
Participant

Will you be getting the credit under the simplified method or will you be using F116? Under the simplified method, you get a generous break…….the FT back,no questions asked. If you use F1116, the effective rate will be a blend of 12% on the ordinary income and 0 for the QDIV/CG income so somewhere in between.