Multiple Choice
Which of the following items of foreign source income is classified as passive category income for foreign tax credit purposes?
A) Dividend received from a 5 percent owned foreign corporation, all of the income of which is derived from an active business
B) Dividend received from a 20 percent owned foreign corporation, all of the income of which is derived from an active business
C) Dividend received from a 100 percent owned foreign corporation, all of the income of which is derived from an active business
D) None of the dividends are classified as passive category income
Correct Answer:
Verified
Correct Answer:
Verified
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