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Revision as of 03:05, 22 September 2026


A credit is allowed for foreign income taxes paid or accrued. The finance is limited to that part of Oughout.S. tax due to foreign source income. It is not refundable, but any excess credit end up being the carried to other years to reduce tax. What the ex-wife have to in this case, it to present evidence of not realizing that such income has been received. And therefore, the computation of taxable income was erroneous.

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