IRS Form 1118 Schedule K Foreign Tax Carryover Reconciliation Schedule

IRS Form 1118 Schedule K Foreign Tax Carryover Reconciliation Schedule

What Is IRS Form 1118 Schedule K?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2018. The document is a supplement to IRS Form 1118, Foreign Tax Credit - Corporations. Check the official IRS-issued instructions before completing and submitting the form.

FAQ

Q: What is IRS Form 1118?
A: IRS Form 1118 is a tax form used by corporations to calculate and claim a foreign tax credit.

Q: What is Schedule K on Form 1118?
A: Schedule K is the Foreign Tax Carryover Reconciliation Schedule on Form 1118.

Q: What does the Foreign Tax Carryover Reconciliation Schedule do?
A: The Foreign Tax Carryover Reconciliation Schedule helps corporations track and reconcile foreign tax credits from previous years that can be carried forward to future years.

Q: Who needs to file Form 1118 and Schedule K?
A: Corporations with foreign income or expenses that are eligible for the foreign tax credit need to file Form 1118 and Schedule K.

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Form Details:

  • A 2-page form available for download in PDF;
  • Actual and valid for filing 2023 taxes;
  • Editable, printable, and free;
  • Fill out the form in our online filing application.

Download a fillable version of IRS Form 1118 Schedule K through the link below or browse more documents in our library of IRS Forms.

Download IRS Form 1118 Schedule K Foreign Tax Carryover Reconciliation Schedule

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