Tax Breaks Investing OVERSEAS

[Germán Rimoldi]

Both income tax paid overseas for the capital earning and rental income can be used as a tax break. Income tax paid to the foreign can either be deducted or applied as a tax credit when filing your taxes in the US. Form 1116 is filed to claim the foreign tax credit if you are an individual, estate, or trust, and you paid or accrued certain foreign taxes to a foreign country.

Can you share other strategies to offsetting tax paid for real estate and STRs owned overseas?