Current Year Foreign Taxes Paid Exceed the Ceiling Based on U.S.tax

Multiple Choice

Current year foreign taxes paid exceed the ceiling based on U.S.tax attributable to foreign source income.These excess foreign tax credits

A) are lost.
B) can be carried forward ten years only.
C) can be carried back one year and then carried forward ten years.
D) can be carried back one year and then carried forward twenty years.