What is harry foreign tax credit

Reference no: EM133389216

Question: Harry, a U.S citizen, owns and operates a business. During 2022, Harry reports taxable income of $115,000: $50,000 from foreign sources and $65,000 from U.S. sources. Foreign income taxes of $17,500 are paid on the foreign source income. Harry files a joint return and claims the standard deduction. What is Harry's foreign tax credit?

Reference no: EM133389216

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