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Yes, you can. It's in the passive basket but subject to high tax kick-out. Rental expenses are directly allocable for FTC purposes. But very often, you would end up with a loss and not having any limitation to claim the credit on because of SLL/OFL.
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Yes, you can. It's in the passive basket but subject to high tax kick-out. Rental expenses are directly allocable for FTC purposes. But very often, you would end up with a loss and not having any limitation to claim the credit on because of SLL/OFL.
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In case you are not comfortable preparing returns with international elements, at least for now, you would be well advised to farm the return out to someone who is more experienced in this area.
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