Free Consultation|USA Only +1 (866)754 4460|Outside USA +1 (516)822 3100
InfoTaxSquare.com - Website Logo
  You are here : Home  >   Services  >   Income Tax Filing Across The USA  
TESTIMONIALS
InfoTaxSquare.com - Testimonials  


I earned dividends on money in a foreign investment. How should I report this?

 
0/5 stars (0 vote)
Category : > Income Tax Filing Across The USA
Posted On : Fri Nov 26th,2010

 
I earned dividends on money in a foreign investment. How should I report this?
 

I earned dividends on money in a foreign investment. How should I report this?

Americans are taxed on their worldwide income so these dividends must be reported and it will be taxable. If foreign taxes were paid on this income the amount that was paid can be offset against US Federal taxes using the foreign tax credit. This tax credit prevents double taxation.

Example: An American citizen invests in a Canadian company. The American citizen receives a year-end statement detailing the dividends he earned and the Canadian taxes remitted to the Canadian Government. The American citizen must report the dividends earned on his tax return, but he can offset some of these taxes using the foreign tax credit.

  


Committed to give our users most updated news!
For instant news please subscribe at www.infotaxsquare.com


Leave Your Comments
Your name :
Email Address : Will not be published
Please enter your email if you want us to send answer to your email. We have a strict policy of not to share your email address with any other party.
Your message :
Insert these letters into the textfield below: (required, case-sensitive): CIIOc
Do you want to Subscribe for
InfoTaxSquare Business News Bulletin?
Yes
No
Comments (0)
Load More
No Comments found, Be the first to write comment
 


InfoTaxSquare.com - 10 Successful Years
Copyright © 2010, Infotax Square All Rights Reserved.
InfoTaxSquare.com - Allows Payment Processing With Visa, MasterCard, American Express and Discover
Terms and conditions, features, support, pricing and service options subject to change without notice.