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?
011486
1 Replies
ryan_ri
Level 3
May 1, 2023 1:07:08 PM
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).