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Hi sorry if this has been covered. I searched and could not find it.
I have a American accountant that handles my foreign tax issues. He is saying that I do not need to declare my foreign passive income from bank dividends and rental income but only need to declare the taxes i paid in 2016.
The closest thing i could find online is one youtube video mentioning if my tax liability in the US was higher than my tax liabilty overseas then i did not need to declare foreign investment income and only need to declare taxes paid.
Second thing i struggle to understand is he is only asking for the taxes that were paid in 2016 not the taxes i will pay in 2017 for 2016 taxes.
Can anyone confirm this? I am not sure if my accountant is not current on these issues and perhaps i should find another.
Thanks for anyones time in advance
I have a American accountant that handles my foreign tax issues. He is saying that I do not need to declare my foreign passive income from bank dividends and rental income but only need to declare the taxes i paid in 2016.
The closest thing i could find online is one youtube video mentioning if my tax liability in the US was higher than my tax liabilty overseas then i did not need to declare foreign investment income and only need to declare taxes paid.
Second thing i struggle to understand is he is only asking for the taxes that were paid in 2016 not the taxes i will pay in 2017 for 2016 taxes.
Can anyone confirm this? I am not sure if my accountant is not current on these issues and perhaps i should find another.
Thanks for anyones time in advance