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 foreign activities are typically concerned with the U.S.-sourcing rules for gross income because they may have income sourced from both the U.S. and other countries, which can impact their tax liability. Foreign persons with only foreign activities may be subject to different sourcing rules, while U.S. persons with only U.S. activities may not have to worry about sourcing rules for foreign income. U.S. persons that earn only tax-exempt income would also not typically be concerned with sourcing rules.

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