The foreign tax credit is equal to the smaller of foreign taxes paid or accrued in the tax year or ...

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The foreign tax credit is equal to the smaller of foreign taxes paid or accrued in the tax year or ...

The foreign tax credit is equal to the smaller of foreign taxes paid or accrued in the tax year or the portion of the U.S. income tax liability attributable to the income earned in all foreign countries.

Textbook

Prentice Hall's Federal Taxation: 2011: Individuals

Edition: 14^th

Authors: Pope, Anderson, Kramer

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