Which of the following persons typically is concerned with the U.S.-sourcing rules for gross income?

Question

Quizplus · Accepted Answer

U.S. persons with both U.S. and non-U.S. activities need to understand the U.S. sourcing rules for gross income to determine their taxable income and potential foreign tax credits. U.S. persons with only U.S. activities can rely on the domestic sourcing rules, while U.S. persons earning only tax-exempt income are not subject to U.S. tax on their gross income. Non-U.S. persons with only non-U.S. activities are not subject to U.S. tax on their gross income unless they have U.S. source income that is effectively connected with a U.S. trade or business.

Which of the Following Persons Typically Is Concerned with the U.S.-Sourcing