Investors and rental owners

Hi,

 

When entering foreign taxes paid from the US you should include the following:

 

1. Social Security Tax Withheld

2. Medicare Tax Withheld

 

Do not enter the Federal Income Tax withheld as this is not your tax liability for Foreign Tax Credit purposes. You would need to use your tax liability as calculated on your 1040 or 1040NR (Your US income tax return for the same year) as well as any state income tax liability.