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- Mon Apr 27, 2015 4:01 am
- Forum: Canada / United States Tax & Accounting
- Topic: FICA and State tax used for FTC?
- Replies: 13
- Views: 8569
If instead of gettinga $1000 refund, you calculated your taxes were $5000, so you OWED $1000 at tax time, using the PAID method, youy could only claim $4000, both on 1116 or Schedule A. As you correctly concluded, the $1000 payment in spring 2015 could then be used on 1116 or schedule A on your 2015...