This form is included if you’ve paid certain types of foreign taxes and want to claim a credit against your US income tax.
This credit helps youavoid double taxation, which would occur if your foreign income is taxed by both the US and the foreign country where you earned the income.
*We do not support Form 1116, Foreign Tax Credit in our filing flow.
- Part I – Taxable Income or Loss From Sources Outside the United States: Your foreign income and deductions.
- Part II – Foreign Taxes Paid or Accrued: The taxes you paid to a foreign government onthe income listed in Part I.
- Part III – Figuring the Credit: Calculates the maximum limit on your foreign tax credit amount for each specific category of income.
- Part IV - Summary of Credits From Separate Parts III: Calculates your total foreign tax credit if you have more than one category of income.