| LO 24-1 | Understand the basic U.S. framework for taxing multinational
transactions and the role of the foreign tax credit limitation.
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| LO 24-2 | Apply the U.S. source rules for common items of gross
income and deductions.
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| LO 24-3 | Recall the role of income tax treaties in international tax planning.
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| LO 24-4 | Identify creditable foreign taxes and compute the foreign tax
credit limitation.
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| LO 24-5 | Distinguish between the different forms of doing business outside
the United States and list their advantages and disadvantages.
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| LO 24-6 | Comprehend the basic U.S. anti-deferral tax regime and
identify common sources of subpart F income.
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