4 ms·
> You can deduct foreign taxes paid Do you mean deduct, or you get a tax credit? If you mean deduct, then you pay UK taxes on $1B and then US taxes on the $800
by afarrell 11y ago
> You can deduct foreign taxes paid
Do you mean deduct, or you get a tax credit? If you mean deduct, then you pay UK taxes on $1B and then US taxes on the $800M (or whatever) that is left over.
- seanmcdirmid 11y agoYa, tax credit of course. For us expats filing personally, it's the foreign tax credit. You can also deduct if you want, but I don't see how that would ever be useful.