Difference between revisions of "How To Handle With Tax Preparation"

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Revision as of 16:31, 11 November 2024

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

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Regarding egg donors and sperm donors there was an IRS PLR, private letter ruling, saying there isn't any deductible for fogeys as a medical expenditure of money. Since infertility is a medical condition, helping along being pregnant could be construed as medical proper.

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