Asked by Yanna Listana on May 17, 2024
Verified
The foreign tax credit is available only to individuals born in a foreign country.
Foreign Tax Credit
A non-refundable tax credit for income taxes paid to a foreign country, aimed at reducing double taxation of the same income.
Born In
Generally refers to the place or country where an individual was born.
- Acquire knowledge of the specific situations in which one can claim the foreign tax credit and adoption credit.
Verified Answer
MB
Marisa BalzanoMay 21, 2024
Final Answer :
False
Explanation :
The foreign tax credit is available to all U.S. citizens, resident aliens, and certain nonresident aliens who have paid foreign income taxes. It is not limited to individuals born in a foreign country.
Learning Objectives
- Acquire knowledge of the specific situations in which one can claim the foreign tax credit and adoption credit.
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