Foreign or Domestic Source Income Flashcards
What determines whether income is from a foreign or domestic source for salary, wages and compensation?
where services performed
What determines whether income is from a foreign or domestic source for business Income from personal services
Where service was performed
What determines whether income is from a foreign or domestic source for business income from sale of inventory?
where inventory was sold
What determines whether income is from a foreign or domestic source for business income from sale of inventory produced?
Allocation
What determines whether income is from a foreign or domestic source for interest?
residence of payor
What determines whether income is from a foreign or domestic source for dividends?
US or foreign corporation paid
What determines whether income is from a foreign or domestic source for rent?
location of property
What determines whether income is from a foreign or domestic source for royalties from natural resources?
Location of the property
What determines whether income is from a foreign or domestic source for royalties from patents, copyrights,etc?
Where property is used
What determines whether income is from a foreign or domestic source for sale of real property?
Location of property
What determines whether income is from a foreign or domestic source for sale of personal property?
Seller’s tax home
What determines whether income is from a foreign or domestic source fora pension distribution attributable to contributions?
Where services were performed that earned the pension
What determines whether income is from a foreign or domestic source for investment earnings on pension contributions?
Location of the pension trust
What determines whether income is from a foreign or domestic source for sale of natural resources?
Allocation based on FMV of product at export terminal
