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Revision as of 17:35, 2 September 2026

A credit is allowed for foreign income taxes paid or accrued. The money is limited to that particular part of U.S. tax due to foreign source income. It's not refundable, but any excess credit can be carried to other years to reduce tax.

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For my wife, she was paid $54,187, which she isn't taxed on for Social Security or Healthcare. My wife to put 14.82% towards her pension by law, making her federal taxable earnings $46,157.

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