Edward has business operations in Country F and Country G.He pays tax to Country F of $12,000 on
$30,000 of income and pays tax to Country G of $4,000 on $10,000 of income.In addition to the income from Country F and Country G,Edward has $100,000 of income from U.S.sources and a total U.S.tax liability,before the foreign tax credit,of $49,000.
What amount of foreign tax credit may Edward claim on his U.S.tax return?

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The Answer of Edward has business operations in Country F and Country G.He pays tax to Country F of $12,000 on
$30,000 of income and pays tax to Country G of $4,000 on $10,000 of income.In addition to the income from Country F and Country G,Edward has $100,000 of income from U.S.sources and a total U.S.tax liability,before the foreign tax credit,of $49,000.
What amount of foreign tax credit may Edward claim on his U.S.tax return?

Edward Has Business Operations in Country F and Country G