DETAILED ANSWERS|LATEST
UPDATE!!!!2025/2026|GUARANTEED PASS|GRADED
A taxpayer's source of income is not important for the foreign tax credit (FTC) to offset U.S.
taxes on foreign source income. - ANSWER False
How is interest income determined? - ANSWER - Residence of the payor
- Bank accounts
- Bonds
- Notes
A dividend from a foreign corporation may be US source income if... - ANSWER If at
least 50% of the corporations' gross income for the preceding three years was effectively
connected income (ECI).
The general rule for sourcing wages and personal services income is controlled by where the
service is performed. - ANSWER True
The residence of the recipient of the service, the place of contracting, and the time and
place of the payment are irrelevant. - ANSWER True
Tental income for the us of tangible property is sourced to the place where the rental
property is located. - ANSWER True
1
UPDATE!!!!2025/2026|GUARANTEED PASS|GRADED
A taxpayer's source of income is not important for the foreign tax credit (FTC) to offset U.S.
taxes on foreign source income. - ANSWER False
How is interest income determined? - ANSWER - Residence of the payor
- Bank accounts
- Bonds
- Notes
A dividend from a foreign corporation may be US source income if... - ANSWER If at
least 50% of the corporations' gross income for the preceding three years was effectively
connected income (ECI).
The general rule for sourcing wages and personal services income is controlled by where the
service is performed. - ANSWER True
The residence of the recipient of the service, the place of contracting, and the time and
place of the payment are irrelevant. - ANSWER True
Tental income for the us of tangible property is sourced to the place where the rental
property is located. - ANSWER True
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