A U.S. citizen has a forign income of 20,000 and paid a tax of 2,000....

80.2K

Verified Solution

Question

Accounting

A U.S. citizen has a forign income of 20,000 and paid a tax of 2,000. His total income is 200,000 and his total U.S. tax is 34,000.

What is the foreign tax credit?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students