Multiple Choice
Alan, a U.S. citizen, works in Germany and earns $70,000, paying $20,000 in German taxes. His U.S. income is $40,000 and he pays $8,000 in U.S. taxes. His U.S. taxes on his worldwide income are $22,500. What is Alan's excess foreign tax credit? Assume he does not qualify for the foreign-earned income exclusion.
A) $0
B) $5,682
C) $8,000
D) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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