USA Foreign tax

Joined
Dec 23, 2018
Messages
14
Reaction score
0
Country
Canada
Are departure taxes on business inventory by a foreign country deductible as a business expense on my Schedule C?
Example, Jan 1st I depart Canada and move to USA. Canada hits my sole prop with a departure tax (capital gain) on my inventory FMV.
Is this a deductible?

Like



Comment
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Members online

No members online now.

Forum statistics

Threads
11,742
Messages
27,787
Members
21,737
Latest member
DevinCiz

Latest Threads

Top