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Code of Federal Regulations Title 26. Internal Revenue § 26.1.642(a)(2)–1 Foreign taxes

Current as of January 02, 2025 | Updated by Findlaw Staff

An estate or trust is allowed the credit against tax for taxes imposed by foreign countries and possessions of the United States to the extent allowed by section 901 only for so much of those taxes as are not properly allocable under that section to the beneficiaries. See section 901(b)(4). For purposes of section 901(b)(4), the term beneficiaries includes charitable beneficiaries.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 26. Internal Revenue § 26.1.642(a)(2)–1 Foreign taxes - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-26-internal-revenue/cfr-sect-26-1-642-a-2-1/

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