Can I deduct foreign tax paid by mutual funds in Arizona state income tax returns?

February 14, 2010 by admin 1 Comment »
UNDISCLOSED asked:

Can I deduct foreign tax paid by mutual funds in Arizona state income tax returns, just as i can deduct foreign tax paid by mutual funds in federal taxes [Form-1040, line-47, using form-1116]. if so, do i use form-309. but this form is a single country only. what do i do if i have a europe fund that pays taxes to several european countries and no breakdown is available

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One Response to “Can I deduct foreign tax paid by mutual funds in Arizona state income tax returns?”

  1. hrblockerrolquinn says:

    Dear W: Looks like you need one form per country, if you can list the taxes on Sch. A See AZ dept of revenue for the form instructions.

    This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor

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