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For 2016 Tax Tips For Year 2016.

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Old 06-14-2017, 02:05 PM
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Foreign Tax Credit

Regarding the foreign tax credit for a 2016 individual return,

I am a US citizen residing in Canada.
Some of my income for 2016 was US-sourced.

For the US-sourced portion of my income, is it possible to pay income tax to Canada for it and then claim the foreign tax credit on my US return?

I am aware of the physical presence/tax home requirement for the Foreign Earned Income Exclusion but as far as I know, there is no such requirement for the Foreign Tax Credit.

I also do not see any requirement for the FTC that the income is based on a foreign-source.....beyond what is diminished by the US vs worldwide income proportion calculation on Form 1116.

Can anyone clarify this?


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