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April 13, 2024
Question

does form 1116, foreign tax credit for $587.20, nonresident tax withheld from dividends, lower my taxes?

  • April 13, 2024
  • 2 replies
  • 0 views
Will form 1116 lower my income with foreign tax credit of $587.20 ?

2 replies

Employee
April 13, 2024

The credit will lower your tax liability or increase your refund. 

Employee
April 24, 2024

@wwood12 , are you saying that you are Non-Resident  Alien ?  If that is correct the  you are filing a form 1040-NR , not supported by TurboTax.  Also , you are taxed by the US only on your  US sourced income -- so how do you get form 1116 ?   This does not make sense  ?   Did you really mean that you are  " Non-Resident" ?