Question

Do I have to claim a foreign tax credit? I'm eligible for $1 in credits and I would rather not bother. Can I simply do the standard deduction and not claim the credit?

Forum|Forum|2 years ago
March 2, 2024
2 replies
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TurboTax Free Edition Online

You get it either as a itemized deduction or as a separate credit. You can do the Standard Deduction and still get the credit. Go back though the Foreign tax section and pick credit.

M

monicaerdmanAuthor

I'm not asking how to claim it. I'm asking if it is optional. I do not want the credit.

T

ThomasM125

You are not required to take a foreign tax credit, but if the foreign tax is listed on a Form 1099-DIV or 1099-INT then TurboTax will give you the credit automatically if your foreign taxes are below a certain amount. The only way to avoid this is to not enter the foreign taxes when you enter your Form 1099, but you can do that if you want.

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