Hi,
I tried to use FTC to reduce taxes in USA for the taxes paid abroad on interest income. It turns out that FTC will only credit to about 40% of what interest taxes were paid abroad.
How can I use the tax treaty to reduce US taxes further? Country abroad is Norway
You won't be able to reduce taxes beyond the FTC. Norway tax treaty with the US shows the US - resident state- will tax the interest earned in Norway but does allow the foreign tax credit. The credit is the lower of the tax rates on the same income.
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