![]() ![]() You may make an election to claim a credit or to change from claiming a deduction to claiming a credit at any time before the end of a special 10-year limitation period described in section 6511(d)(3) (or section 6511(c) if the period is extended by agreement). ![]() If you are an accrual basis taxpayer or if you elected to claim your foreign tax credit on an accrual basis, taxes paid that relate to a prior tax year in which you elected to claim a deduction instead of a credit in that prior year. Taxes on income or gain that aren't creditable because they were paid or accrued in connection with a covered asset acquisition, as described in item 12 under Foreign Taxes Not Eligible for a Credit, later. Taxes on income or gain that aren't creditable because you have to make related payments, as described in item 6 or 8 under Foreign Taxes Not Eligible for a Credit, later.Ĭertain taxes paid or accrued to a foreign country in connection with the purchase or sale of oil or gas extracted in that country, as described in item 10 under Foreign Taxes Not Eligible for a Credit, later. Taxes on income or gain that aren't creditable because you don't meet the holding period requirement, as described in item 5 or 7 under Foreign Taxes Not Eligible for a Credit, later. ![]() Taxes paid to certain foreign countries for which a credit has been denied, as described in item 4 under Foreign Taxes Not Eligible for a Credit, later. Foreign taxes not allowed as a credit because of boycott provisions. ![]()
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