DC has unused FTC carryover from 2017 in the separate category for GC income as the result of income generated by a foreign branch. The income was foreign source general category income. In 2018 the branch will generate foreign source income that would have been GC income in a pre-2018 year. How are DC's unused foreign taxes paid with respect to a separate category of income that are carried forward to a taxable year beginning after 2017 allocated?

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Unused foreign taxes paid or accrued or deemed paid with respect to a separa... View the full answer