With Respect to the Following Statements About Foreign Source Income

With respect to the following statements about foreign source income and related tax credits for corporations, which one is NOT correct?

A) If a credit related to foreign business income cannot be used during the current period, it can be carried back 3 years and carried forward 10 years.
B) Any amount of a corporation's foreign non-business tax credit in excess of 15 percent of foreign non-business income must be deducted in determining Net Income For Tax Purposes.
C) The foreign non-business tax credit may be less than the amount of foreign taxes withheld.
D) The gross amount of foreign sources income, without the deduction of amounts withheld, must be included in Net Income For Tax Purposes.