thanks 12. Question 12 of 12. Which of the following correctly applies to claiming...
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thanks 12.
Question 12 of 12. Which of the following correctly applies to claiming a benefit for foreign taxes on the tax return? If the Foreign Tax Credit exceeds the Foreign Tax Credit limitation, the unused portion may not be carried to another tax year. A taxpayer must request IRS permission to claim a credit or to itemize foreign taxes on an annual basis. A taxpayer may never claim both a credit and a deduction for foreign taxes on the same return. Most taxpayers find it more beneficial to claim the Foreign Tax Credit than an itemized deduction for foreign taxes paid
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