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Please select the best answer for each of the following questions. Unless otherwise stated, the questions relate to the current tax year. You will be

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Please select the best answer for each of the following questions. Unless otherwise stated, the questions relate to the current tax year. You will be permitted to take the quiz twice with the highest score being recorded as your grade. Question 1 20 pts Jeff, a U.S. citizen, works in Canada for one month and earns $10,000 of salary. The salary is subject to Canadian tax of $2,000 (It is taxed at a rate of 20%). Jeff's U.S. tax rate on the income is 30%. How much foreign tax credit is Jeff entitled to on his U.S. tax return? $10,000 $3,000 $2,000 None of the other answers are correct

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