Juliann reported foreign income tax of $1,000 on foreign income of $8,000.Her worldwide taxable income was $89,000 and her U.S.tax liability was $23,000.What is the amount of foreign tax credit she is allowed? Briefly explain your answer.

Question

Quizplus · Accepted Answer

The Answer of Juliann reported foreign income tax of $1,000 on foreign income of $8,000.Her worldwide taxable income was $89,000 and her U.S.tax liability was $23,000.What is the amount of foreign tax credit she is allowed? Briefly explain your answer.

Juliann Reported Foreign Income Tax of $1,000 on Foreign Income