Can these taxes be taken as a credit on page 2 of the 1040?
Two Canadian companies merged and the stockholders received proceeds. From these proceeds, Canadian capital gains taxes were withheld. Client read on company website that the taxes may be taken as a foreign tax credit on his 1040 tax return. Do you agree?
Thanks.
Two Canadian companies merged and the stockholders received proceeds. From these proceeds, Canadian capital gains taxes were withheld. Client read on company website that the taxes may be taken as a foreign tax credit on his 1040 tax return. Do you agree?
Thanks.
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