Comment on FR Doc # 2012-29238

1) Assume taxpayer has Canadian dividend income subject to a Canadian income tax. Such Canadian income tax, under the Sec. 901/904 rules, exceeds the US income tax on such dividend income. Would the Sec. 901 foreign tax credit also be allowed as a credit against Sec. 1411 net investment tax? Can you please supply guidance on this point. 2) Assuming Sec. 901 foreign tax credit is not an applicable credit agains Sec. 1411 tax, do the "elimination of double-taxation" clauses of US tax treaties serve to credit foreign income tax agains the Sec. 1411 tax?