Mr. Ayuba is single and a US citizen. His only income for 2018 is US wages of
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Mr. Ayuba is single and a US citizen. His only income for 2018 is US wages of $57,000 and $1,077 of qualified foreign dividends. He paid $425 in foreign taxes. His taxable income from Form 1040, line 10 is $46,007. The tax on the return from Form 1040, line 11a is $6,007 . If he claims the standard deduction, what is the amount of his credit carryover, if any? You may use Form 1116 to aid you.
Related Book For
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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