Course focused on how to compute the Foreign Tax Credit on the Federal return of residents of Puerto Rico who need to file both a U.S Income Tax Return and a Puerto Rico Income Tax Return. Topics include: source of income rules, qualifying taxes, categories of income and the allocation of income within and without the United States; carrybacks and carryovers of foreign taxes and adjustments for Foreign Tax Credit Redeterminations. Exercises illustrating step-by-step preparation of Form 1116 (Foreign Tax Credit).
Instructional Delivery Method: Group Live
CPE Credits: 6
P. R. Field of Study: Taxes
NASBA Field of Study: Taxes
Pre-requisite: Must have previous experience with the preparation of Federal Income Tax Returns, and knowledge of general Federal individual income tax concepts.
Advance Preparation: None
Category: Required course
Date: March 14, 2018
Registration: 8:15am - 9:00am Seminar: 9:00am - 4:00pm
Gloria Gelabert, Enrolled Agent, Internal Revenue Service
Place: Club Rotario de Río Piedras