Trevor and LaVonne's total amount of foreign taxes available for credit is $2,107 ($32,859/$62,659) x $3,756.
The entry on Form 1116, line 12, reduction in foreign tax credit is $1,649 ($27,500 exempt income/$62,659 total income) x $3,756.
Trevor and LaVonne's total amount of foreign taxes available for credit is $2,107 ($32,859/$62,659) x $3,756.
The entry on Form 1116, line 12, reduction in foreign tax credit is $1,649 ($27,500 exempt income/$62,659 total income) x $3,756.