Hi Sorry to be the messenger of bad news, but under 901(j) (4) it is stated that no deductions shall be allowed for those countries FOR WHICH no tax CREDIT is allowed
901(j) (1) is the disallowance of the credit, and 901(j)(4) is the disalloance of any deduction for taxes paid, as well
When I read section 901(j)(4)
It seems it doesn't clearly say that deduction is disallowed
(3)Taxes allowed as a deduction, etc.
but the code says section 275 and 78 shall not apply...
IRS uses substance over form
YOu can look all day for this but the policy behind this is that WILL NOT allow a tax incentive for taxes paid in Cuba
deduction, credits, foreign income exclusiong, etc
Sure, I believe you
even though i got confused by the language
Sorry, but I wouldn't mess with this one ... (just trying to hgelp you see around some corners)
Got you, thanks so much!!
If this HAS helped, I would appreciate a feedback rating of 3 (OK) or better … That's the only way they will pay us here.
HOWEVER, if you need more on this, PLEASE COME BACK here, so you won't be charged for another question
f you'd like to work with ME again just say "For Lane only," at the beginning of your next question