Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ****can a taxpayer claim both the foreign earned i

****Can a taxpayer claim both the foreign earned income exclusion and the foreign tax credit?...

80.2K

Verified Solution

Question

Accounting

****Can a taxpayer claim both the foreign earned income exclusion and the foreign tax credit?

1. No, the taxpayer must choose one tax benefit or the other.

2. Yes, but the taxpayer cannot claim the credit for taxes paid on excluded income.

3. Yes, but the taxpayer cannot claim the credit and exclusion on income from the same country.

4. Yes, but the taxpayer cannot claim the credit and exclusion on income in the same category.

***********************************************************

Luke was physically present in the United States for 110 days in 2016, 180 days in 2015, and 120 days in 2014. Under the substantial presence test formula, how many days is Luke deemed physically present in the United States in 2016 for purposes of determining if he is a resident alien?

1. 110

2. 180

3. 190

4. 360

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J....

Finance
Q

1.) (1 point) Find the particular antiderivative that satisfies the following conditions: dy/dx=7−4x; y(0)=2 y= 2.) (1 point) Find...

Basic Math
Q

The YMCA contracts with Road Maintenance Inc. to clear roads and driveways during the winter months...

General Management
Q

Write an equation for the function graphed be in factored form Use y as your...

Geometry
Q

A bank developed a model for predicting the average checking and savings account balance as...

Basic Math
Q

Lucy earns $75,000 and is filing her taxes as a single woman. What amount of...

Basic Math
Q

Use the figure to find the exact value of each trigonometric function a b cos...

Calculus
Q

Solve the equation Check your solution 4x 9 4x 33

Algebra
Q

2.John, Mary, George, and Linda together provide more than 50% of the support for their...

Accounting
Q

Shale Oil Companys Aston, Ohio, manufacturing complex comprises several operating units. These units process the...

Accounting
Q

Finance help help The following figures are collected from the annual report of...

Finance
Q

please give a detailed answer (with all calculations) Kinepolis AG Equity =...

Finance