About Publication 514, Foreign Tax Credit for Individuals

 

Publication 514 discusses the credit or itemized deduction you may be able to take if you paid or accrued foreign taxes to a foreign country on foreign source income and you are subject to U.S. tax on that same income. Taken as a deduction, foreign income taxes reduce your U.S. taxable income. Taken as a credit, foreign income taxes reduce your U.S. tax liability.


Current Revision

 Publication 514PDF (HTML | eBookEPUB)


Recent Developments


Other Items You May Find Useful