Epstein File EFTA01390788: Withheld and Treat (DS10)

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💨IMPACT LEVEL 1 — MEH

Epstein File EFTA01390788: Withheld and Treat (DS10)

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This document contains provisions from a partnership agreement addressing tax treatment of foreign taxes withheld from Limited Partners' income. It outlines that Limited Partners subject to U.S. federal income taxation may elect to treat foreign taxes as creditable against U.S. federal income tax liability, or alternatively claim a deduction against U.S. federal taxable income, subject to applicable limitations.

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withheld treat

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Excerpt 1

applicable limitations, a Limited Partner that is subject to U.S. federal income taxation generally should be entitled to elect to treat foreign taxes **withheld**

Excerpt 2

Subject to applicable limitations, a Limited Partner that is subject to U.S. federal income taxation generally should be entitled to elect to **treat** foreign

Excerpt 3

Limited Partners that do not elect to **treat** their shares of foreign taxes as creditable generally may claim a deduction against U.S. federal taxable income