Question
23. Zofia has $60,000 foreign-source income and $180,000 worldwide income. Her U.S. tax on her worldwide income is $38,615, and she paid foreign taxes of
23. Zofia has $60,000 foreign-source income and $180,000 worldwide income. Her U.S. tax on her worldwide income is $38,615, and she paid foreign taxes of $12,000. What is the Zofia's foreign tax credit (rounded)?
A) $9,000
B) $12,000
C) $12,872
D) $38,615
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Using Financial Accounting
Authors: Carl S. Warren, Jeff Jones, Amanda Farmer
1st Edition
0357507851, 9780357507858
