What Are the Carryback and Carryforward Periods for the Foreign

question 41

Multiple Choice

What are the carryback and carryforward periods for the foreign tax credit?

• A)back two years; forward five years
• B)back three years; forward ten years
• C)back one year; forward ten years
• D)back two years; forward twenty years

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Definitions:

Sex

A biological characteristic determining the male and female species, also referring to activities related to sexual intercourse.

Attaining A Goal

The act of achieving or reaching a desired outcome or objective.

Revenge

The act of retaliating or seeking payback for a real or perceived wrong.

Pleasure

A feeling of happiness, enjoyment, or satisfaction derived from an experience that is enjoyable or satisfying.