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Revision as of 01:01, 29 August 2026


A credit is allowed for foreign income taxes paid or accrued. The financing is limited for that part of Oughout.S. tax due to foreign source income. It's not refundable, but any excess credit the carried to other years to reduce tax.

If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your income tax bill is destined to be approximately three thousand dollars.

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