Ok, think I have all of the above items correctly placed. I have a couple of lingering questions from info I've seen from other posts. I don't have a lot of things cross referenced on my 2042c yet, but as I fill out the other forms, things keep appearing, and so do the questions!
1), on form 2047, section 7, chart for line 70 - what about listing cg's again there, and then also listing foreign tax paid there, to then be additionally listed on 2042c, 8VL?
2) on form 2047, line 30 - Listing cg's here shows they also need to be listed again on 2042C section 3, lines 3VG and 3UA. Is that correct? 3VG seems to make sense, but I don't have the kinds of cg for 3UA, so it's just 0.
3) on form 2042c, section 2, line 1AH - does one list foreign source pension here again? (also line RSE there, for source of pension.
I feel like I'm on the home stretch. Thank you so very much to all on this forum with their questions and answers. I still don't know what I don't know!
Hi, Dunkelcreature:
The part of the notice for 2047 that you want to look at is the one describing how to deal with foreign income that gets a tax credit equal to the
French tax, not the section for foreign income that gets a tax credit equal to the foreign tax:
“
b: Tax credit equal to the amount of French tax (8 tk)
French tax is defined as income tax plus social security contributions. Regardless of the amount of tax actually collected in the foreign country, it cannot be deducted in : this method results in calculating French tax on foreign income, then offsetting it with a French tax credit of the same amount. This method allows foreign income to be taken into when calculating the French tax rate, which will apply to other household income taxable in , in order to maintain the progressive tax system. In general, the tax credit is granted on the condition that tax has actually been paid abroad. This double taxation elimination mechanism is provided for in treaties concluded with the following states: Albania, Algeria, Andorra, Argentina, Armenia, Austria, Australia, Azerbaijan, Bahrain, Botswana, Bulgaria, Cameroon, Canada, Chile, China, Colombia, Congo, Côte d'Ivoire, Croatia, Denmark, Ecuador, Egypt, Estonia, Ethiopia, Gabon, Georgia, , Ghana, Greece, Guinea, Hong Kong, Iceland, India, Israel, Italy, Japan, Kazakhstan, Kenya, Kuwait, Latvia, Luxembourg, Libya, Lithuania, Macedonia, Malta, Mexico, Mongolia, Namibia, Nigeria, Norway, Oman, Pakistan, Panama, Qatar, Russian Federation, Saint Martin, Senegal, Singapore, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom,
United States, Uzbekistan, Slovenia, Sweden, Switzerland, Syria, Taiwan, the Czech Republic, Ukraine, Venezuela, Vietnam, and Zimbabwe.
With some exceptions, this tax credit eliminates double taxation, particularly with regard to real estate income, income from agricultural and forestry operations, industrial and commercial profits, profits from non-commercial professions, public and private salaries and wages, public pensions, private pensions paid under statutory social security schemes, and certain capital gains.
Reporting Procedures
You must declare this income according to its type on form no. 2047, pages 1 to 3, without deducting the tax paid abroad but after allocating the deductible expenses specific to its category. For salaries, wages, and pensions, you do not need to apply the 10% flat-rate deduction (it will be applied automatically), nor do you need to deduct actual expenses for salaries and wages (you declare these in a separate section).
You must also report this income in box 6 on page 4 of tax return no. 2047. In addition, you must report this income in tax return no. 2042 on both line 8TK and for each income category in the boxes corresponding to their type: 1AF to 1DF for salaries, 1AL to 1DL for pensions, 1AR to 1DR for life annuities, 4BK or 4BL for property income, 5AK to 5CL for agricultural profits, 5DF to 5FG for industrial and commercial income, 5EY to 5GZ for non-professional furnished rentals, 5UR to 5WS for non-professional industrial and commercial profits, 5XJ to 5ZK for non-commercial profits, and 5XS to 5ZX for non-professional non-commercial profits.”
