Under the American Jobs Creation Act of 2004, how many FTC baskets are used to classify foreign source income?

Question

Quizplus · Accepted Answer

The American Jobs Creation Act of 2004 introduced two separate FTC baskets to classify foreign source income: the general category and the specific category. The general category covers income that is subject to a foreign tax, while the specific category covers income that is taxed differently by the foreign country than it would be in the US. Therefore, choice B) is the correct answer.

Under the American Jobs Creation Act of 2004, How Many