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Use Schedule C (Form 1116) to report foreign tax redeterminations that occurred in the current tax year and that relate to prior tax years. See Schedule C (Form 1116) and its instructions, and Foreign Tax Redeterminations, later, for more information.
File Form 1116, Foreign Tax Credit, to claim the foreign tax credit if you are an individual, estate or trust, and you paid or accrued certain foreign taxes to a foreign country or U.S. possession.
Department of the Treasury Internal Revenue Service. Foreign Tax Credit. (Individual, Estate, or Trust) Attach to Form 1040, 1040-SR, 1040-NR, 1041, or 990-T. Go to www.irs.gov/Form1116 for instructions and the latest information.
The latest versions of IRS forms, instructions, and publications. View more information about Using IRS Forms, Instructions, Publications and Other Item Files. Click on a column heading to sort the list by the contents of that column. Enter a term in the Find box. Click the Search button.
Claiming the Foreign Tax Credit can reduce your U.S. tax liability by subtracting the taxes you paid to another country from the amount you owe the IRS. If your credit exceeds your U.S. tax obligation, you can carry forward the unused amount to future tax years, providing further tax savings.
Form 1116, officially known as the Foreign Tax Credit (Individual, Estate, or Trust), is an IRS form that U.S. taxpayers use to claim a credit for foreign taxes paid or accrued to a foreign country or U.S. possession on foreign income.
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