The U.S. IRS has published a practice unit, Foreign Tax Credit - Categorization of Income and Taxes Into Proper Basket. The general overview of the practice unit includes the following: Note: This Practice Unit is revised to address changes from implementation of the Tax Cuts and Jobs Act (TCJA) and covers the appropriate identification of the types of foreign sourced income and taxes to determine assignment into their proper categories. This Practice Unit supersedes the December 1, 2016, Practice Unit titled "Categorization of Income and Taxes Into Proper Basket." The Foreign Tax Credit (FTC) calculation must be applied separately to...