Financial Planning Toolkit - Planning Tools

Form 1116, Foreign Tax Credit

If you paid taxes to a foreign country, either directly or through a conduit such as a mutual fund, you may be entitled to a tax credit. Generally you have the option of claiming foreign taxes as an itemized deduction on Schedule A, or claiming the foreign tax credit on Form 1116.

Form 1116, Foreign Tax Credit

Instructions for Form 1116, Foreign Tax Credit

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For more information, see our discussion on the foreign tax credit.

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