Complete with valuable practice pointers to help you navigate this highly complex area of international taxation, Foreign Tax Credits shows you how to:

• Determine the eligibility of direct and indirect credits
• Allocate and apportion income and expenses
• Compute the indirect foreign tax credit
• Recapture foreign source losses under Section 904(f)
• Apply the indirect foreign tax credit to controlled foreign corporations
• Deal with such tricky issues as the impact of credits on AMT calculation
• Apply U.S. foreign tax credit rules to tax treaties
• And much more!

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