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Tax rebate from a foreign government - taxable income in the US?

Tax rebate from a foreign government - taxable income in the US?

Old Jan 17th 2014, 6:25 pm
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Default Re: Tax rebate from a foreign government - taxable income in the US?

Originally Posted by kodokan
Thank you, guys - it all sounds quite straightforward. I'm glad I asked about this, as I hadn't even considered the 'taxable interest' element. It's likely to be the $250-300 region, if the Swiss govt is still paying the 2% I remember from when we were there, so needs reporting but I don't thiiiiink they then withhold tax on it (and even if they did it's probably not even worth worrying about foreign credits).

Think I shall have a little play with Turbo Tax Premier over the weekend, then I'll have more of an idea of what I'd need to find out/ have in front of me to prepare taxes.
Turbo tax allows you to edit any form manually. If the form was not previously used by Turbo Tax, it will determine that you made an entry and will use that form to calculate your taxes.
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