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January 31, 2025
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Foreign Account Interest, Do I calculate the value before the foreign government took tax out of it or after?

  • January 31, 2025
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    Best answer by DaveF1006

    You will report the amount of interest before the foreign government took withholding tax out. You may claim a foreign tax credit for the amount of withholding so you will not be double taxed by the foreign country and the US.

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    DaveF1006
    DaveF1006Answer
    January 31, 2025

    You will report the amount of interest before the foreign government took withholding tax out. You may claim a foreign tax credit for the amount of withholding so you will not be double taxed by the foreign country and the US.

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