Not only what is the authority for that statement, but also why the foreign government tax calculation deduction amount should be used. Makes no sense to me.
The 1116 Part I calculation has nothing to do with foreign government tax calculations. It has to do with US income tax calculations for US income from foreign sources (IRC 862) in order to compute the I.R.C. 904 limitation on the FTC, i.e. US tax times [foreign sourced income per the IRC/treaties] / worldwide income]
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
