IRS practice unit: Foreign tax credit limitation and computation
Foreign tax credit limitation and computation
The IRS Large Business and International (LB&I) division publicly released a “practice unit”—part of a series of IRS examiner “job aides” and training materials intended to describe for IRS agents leading practices about tax concepts in general and specific types of transactions.
The title of this “process unit” (as referred to by the IRS) is: FTC limitation and computation
The process unit explains in general terms the computation of an individual taxpayer’s foreign tax credit limitation.
Read the concept unit on the IRS practice unit webpage (posting date of July 17, 2020).
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