<p>Practice Unit Covers Allocation, Apportionment for FTC Limitation</p>

Practice Unit Covers Allocation, Apportionment for FTC Limitation

Internal Revenue Service

The IRS has released a practice unit on the general rules and processes of allocating and apportioning specified expenses, losses, and other deductions against foreign source gross income in determining the foreign tax credit limitation.

<p>The IRS has released a practice unit on the general rules and processes of allocating and apportioning specified expenses, losses, and other deductions against foreign source gross income in determining the foreign tax credit limitation.</p>