Re: TurboTax is suggesting an amount for Foreign tax deduction under 20(12). Has the software calculated the optimal allocation to minimize overall tax in this 20(12) amount?
TurboTax is suggesting an amount for Foreign tax deduction under 20(12). Has the software calculated the optimal allocation to minimize overall tax in this 20(12) amount?
TurboTax is suggesting an amount for Foreign tax deduction under 20(12). Has the software calculated the optimal allocation to minimize overall tax in this 20(12) amount?
Hello, we appreciate your question. What platform are your filing with? Just a key reminder, this election is not mandatory. If eligible, individuals may make a partial claim or opt not to make a claim with respect to subsection 20(12).
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