From: "Jeffrey E." <jeevacation@gmail.com>
To: Richard Joslin <1
Subject: Re:
Date: Thu, 22 May 2014 20:16:03 +0000
why isnt the full foreign tax credit a carryover
On Thu, May 22, 2014 at 4:02 PM, Richard Joslin < > wrote:
I will send tom's draft in a few minutes. I am adding amended to the respective forms and ordering the explanations to
be contiguous. Larry made a good observation that the font on page 1 is irregular and that may mean manual override
which deserve double checking calculations that might not be done by the tax software. In looking at the foreign tax
credit, the credit amount for 2011is calculated incorrectly (General category gross foreign income $119K; general
category foreign tax paid $837K — gross income cannot be less than tax paid). The point is that the 2012 return should
not be claiming (entirely) the carryover foreign tax credit from 2011. I also need to review the tax year 2009 B filing for
Black Family 2006 Trust as there is a $32MM investment interest deduction (BRH pass through interest is only $16MM
for 2009). A big chunk of this interest was allocated to foreign source loss in 2009 that created a carryover.
From: Jeffrey E. [mailto:jeevacation@gmail.com
Sent: Thursday, May 22, 2014 3:12 PM
To: Richard Joslin; lawrence delson
Subject:
12 amendment
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