Gina has $39,000 total taxable income,which includes $6,000 of taxable income from Argentina.She paid $1,200 in foreign income taxes and her U.S.tax liability is $3,610.Gina's foreign tax credit is: Do not round interim calculations)

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The foreign tax credit is calculated as the lesser of the foreign taxes paid ($1,200) or the U.S. tax liability on the foreign income. The U.S. tax liability on the foreign income is calculated as ($6,000/$39,000) * $3,610 = $555. Therefore, the foreign tax credit is $555.

Gina Has $39,000 Total Taxable Income,which Includes $6,000 of Taxable