- Jenna Paid Foreign Income Tax Of 5 158 On Foreign Income Of 25 788 Her Worldwide Taxable Income Was 167 000 And Her 1 (19.67 KiB) Viewed 11 times
Jenna paid foreign income tax of $5,158 on foreign income of $25,788. Her worldwide taxable income was $167,000, and her
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Jenna paid foreign income tax of $5,158 on foreign income of $25,788. Her worldwide taxable income was $167,000, and her
Jenna paid foreign income tax of $5,158 on foreign income of $25,788. Her worldwide taxable income was $167,000, and her US, tax liability was $41,000. Required: a. What is the amount of the foreign tax credit (FTC) allowed? b. What would be the allowed FTC if Jenna had paid foreign income tax of $11,400 instead? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount. Amounts a Foreign tax credit allowed b. Foreign tax credit allowed