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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 1116
for the current year.
IRS Form 1116 Foreign Tax Credit (Individual, Estate, or Trust)
What Is IRS Form 1116?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 1116?A: IRS Form 1116 is used to claim the foreign tax credit for individuals, estates, or trusts.
Q: Who needs to file IRS Form 1116?A: Individuals, estates, or trusts who have paid foreign taxes and want to claim a credit for those taxes on their U.S. federal income tax return.
Q: What is the purpose of IRS Form 1116?A: The purpose of IRS Form 1116 is to prevent double taxation by allowing eligible taxpayers to claim a credit for foreign taxes paid on income earned outside of the United States.
Q: How do I fill out IRS Form 1116?A: You will need to provide information about the foreign taxes paid, your foreign income, and calculate your foreign tax credit limitation.
Q: When is the deadline to file IRS Form 1116?A: The deadline to file IRS Form 1116 is the same as the deadline to file your U.S. federal income tax return, which is generally April 15th of each year.
Q: Can I file IRS Form 1116 electronically?A: Yes, you can file IRS Form 1116 electronically through IRS e-file if you are filing your U.S. federal income tax return electronically.
Q: What happens if I don't file IRS Form 1116?A: If you are eligible for the foreign tax credit but fail to file IRS Form 1116, you will not be able to claim the credit and may end up paying more in taxes.
Q: Can I carry forward unused foreign tax credits?A: Yes, you can carry forward unused foreign tax credits to future tax years if you are unable to claim the full credit in the current year.
Q: Do I need to attach any supporting documents with IRS Form 1116?A: Yes, you will need to attach a copy of your foreign tax return, as well as any other documents that support your claim for the foreign tax credit.
Form Details:
- A 2-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
- Editable, printable, and free;
- Fill out the form in our online filing application.
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Download IRS Form 1116 Foreign Tax Credit (Individual, Estate, or Trust)
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