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Which of the following is true about subpart F? (choose one) It is never defined in the internal revenue code Correct! It is limited to

Which of the following is true about subpart F? (choose one) It is never defined in the internal revenue code Correct! It is limited to current year earnings No foreign tax credit is allowed for subpart F income Subpart F income taxes certain income currently, then taxes it again when distributed to a US shareholder

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