S-Corp with foreign withholding

Technical topics regarding tax preparation.
#1
zl28  
Posts:
2067
Joined:
22-Apr-2014 10:27pm
Location:
usa
An S-corp earns 100k in Canada
and has 20k in Canadian taxes withheld.

The 20k foreign tax credit will flow thru onto his indiv tax return.

On his quickbooks he had 80k in revenue.

I grossed that up to 100k
but how would i categorize the 20k paid to Canada...is that an AAA distribution?
 

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