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Foreign Tax Credit Reporting for dummies!

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    Foreign Tax Credit Reporting for dummies!

    Does anyone have a book/course/website that I can go to to bring myself up to speed on calculating the foreign tax credit ? The new rules have made the decision between credit and deduction practically a mute point, and I have a new client (on extension for 2018) who has enough activity - mostly dividends, but some trust K-1's - that I want to really understand how to calculate foreign versus US income, and carryovers, etc. And I am getting lost in the actual laws and regulations.... I am looking for plain English articles first, before I get stuck in the weeds.
    Thanks for any help you can provide.

    #2
    You can try this website that has free CPEs.https://www.cpaacademy.org/

    Also Practical Guide to US International taxation is very useful but this book is expensive

    Also if you search in you tube you will get plenty of seminars that explain foreign tax very well

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      #3
      Did you start with IRS Pub 514? Then go to your research subscriptions, such as The Tax Book, CCH's AnswerConnect, etc. Your software might offer courses. Check out your usual source for classes, webinars, books and your local chapters of NAEA and NATP.

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