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New Member

1. May I deduct 2014 US tax from 2014 Canadian tax? 2. I have a unused foreign tax credit of $322 from 2103, Why does not TurboTax deduct it from my 2014 tax?

 
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New Member

1. May I deduct 2014 US tax from 2014 Canadian tax? 2. I have a unused foreign tax credit of $322 from 2103, Why does not TurboTax deduct it from my 2014 tax?

You can enter in your world income and tax deducted, and the software will calculate any tax implications accordingly. However, a foreign tax credit from your US tax return will not reduce your tax payable in the Canadian tax return.


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New Member

1. May I deduct 2014 US tax from 2014 Canadian tax? 2. I have a unused foreign tax credit of $322 from 2103, Why does not TurboTax deduct it from my 2014 tax?

You can enter in your world income and tax deducted, and the software will calculate any tax implications accordingly. However, a foreign tax credit from your US tax return will not reduce your tax payable in the Canadian tax return.


View solution in original post