1. When must the average exchange rate be used for accrued but unpaid foreign taxes?
(1)The foreign taxes were paid on the last day of the year prior to the year in which the taxes were accrued (2) They were paid within 2 years of the end of the tax year to which they relate (3) The foreign taxes are denominated in inflationary foreign currency (4) They were paid within 4 years of the end of the tax year to which they relate
2. Foreign taxes imposed on which of the following items may only be claimed as an itemized deduction
(1) Real estate property (2) Rental income (3) Interest income (4) Personal service income