Jake a US citizen, has foreign income of $20,000 and paid a tax of 2000 on this income. His income from all sources (including foreign) is $200,000 and his total US tax on that income is $34,000. what is the amount of his foreign tax credit

Jake a US citizen, has foreign income of $20,000 and paid a tax of 2000 on this income. His income from all sources (including foreign) is $200,000 and his total US tax on that income is $34,000. what is the amount of his foreign tax credit

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 20P

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