Computing the Foreign Tax Credit
{"Image DocumentName": "Computing the Foreign Tax Credit", "Image ImageDescription": "Procedure. Compute creditable taxes ( All or Nothing ) Compute foreign tax credit limitation. Credit = Lesser of creditable taxes or FTCL. Excess credits: Back 2 years, forward 5 years. Computing creditable taxes (Step 1 above) Qualifying (by treaty) foreign levies (\u00a7\u00a7 901,903) Taxpayers entitled to claim a credit (\u00a7 901) Currency translation (average exchange rate for year) (\u00a7 986) Cash v. accrual basis accounting (\u00a7905) [Accrual method election available]", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}