ostefano

Absolutely, but can you confirm that my understanding is correct, and what I just said is a fair conclusion and approved course of action?

Thank you. And apologies in advance for this last question, I just want to be sure I got this correctly. I can claim foreign tax credit to offset my taxable income even if in my declaration of the proceeds of the sale to HMRC will declare the proceeds as stock sale rather than dividend (as erroneously done by IRS, and reason why the tax was withheld).

Hi, For this specific transaction (with the proceeds erroneously seen as a dividend rather than stock sale by IRS), would the claimed foreign tax credit able to offset the actual capital gain occurred as part of the transaction itself, or would I only be able to offset it against my taxable income?