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New Member
posted Apr 27, 2023 10:35:21 PM

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?

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1 Replies
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).