68 jose a u s citizen has taxable income from u s sources of 15 000 and taxable inco 4314568

68 jose a u s citizen has taxable income from u s sources of 15 000 and taxable inco 4314568

68) Jose, a U.S. citizen, has taxable income from U.S. sources of $15,000 and taxable income from a foreign country of $35,000. Assume the U.S. tax rate is 25% and Jose paid $12,000 in taxes to the foreign country. What foreign tax credit can be claimed by Jose?

69) Michael, a U.S. citizen, earned $100,000 of foreign-earned income and no other U.S. or foreign income in 2013. He also incurred $10,000 of employment-related expenses, none of which were reimbursed. If the full foreign-earned income exclusion is utilized, calculate the deductible employment-related expense (before the 2% nondeductible floor).

70) Darlene, a U.S. citizen, has foreign-earned income of $150,000 and employment-related expenses of $15,000. Darlene earns no other income. Darlene also has $12,000 of itemized deductions not directly related to the foreign-earned income. She can exclude $97,600 of foreign-earned income. Darlene incurs $33,750 of Country C income taxes on $150,000 of Country C taxable income. How much of Darlene's foreign income taxes are noncreditable?

71) Marcella, an alien individual, is present in the United States for 122 days this year and 122 days each in the past two years. Does she satisfy both the 31-day and 183-day requirements for U. S. Residency status?

72) Jacque, a single nonresident alien, is in the United States for 80 days in the current year engaging in the conduct of a U. S. trade or business. Jacque has $3,000 of interest income earned on a bank account in his home county and $1,800 of interest income earned on a bank account located in Addison, Illinois. How will the dividend be taxed and how will the tax be collected?

73) Jacque, a single nonresident alien, is in the United States for 80 days in the current year engaging in the conduct of a U. S. trade or business. Jacque has $30,000 of dividend income paid by a U. S. corporation on a stock investment portfolio unrelated to his trade or business. How will the dividend be taxed and how will the tax be collected?

74) Jacque, a single nonresident alien, is in the United States for 80 days in the current year engaging in the conduct of a U. S. trade or business. Jacque has a $15,000 capital gain on the sale of stock in a U. S. corporation while he was in the United States. The capital gain is not connected to his trade or business. How will the capital gain be taxed and how will the tax be collected?

75) Jacque, a single nonresident alien, is in the United States for 80 days in the current year engaging in the conduct of a U. S. trade or business. Jacque has $75,000 of sales income earned while in the United States and $30,000 of non-U. S. sales income earned while he was outside the United States. How will the income be taxed and how will the tax be collected?

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