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What is the amount of allowable foreign income tax credit

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Reference no: EM131174707

Dave is a U.S. citizen who works in a foreign country for a few months, earning $20,000 U.S.

He pays $5,000 in tax to the foreign country.

He earns a total of $80,000 subject to U.S. tax and pays $24,000 in U.S. tax.

What is the amount of the allowable foreign income tax credit that can be claimed by Dave?

a. $5,000

b. $6,000

c. $24,000

d. None of the above

Reference no: EM131174707

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