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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
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 a foreign tax credit.
Q: What is the purpose of IRS Form 1116?
A: The purpose of IRS Form 1116 is to reduce the double taxation of income by claiming a credit for foreign taxes paid.
Q: Who needs to file IRS Form 1116?
A: A taxpayer who has paid foreign taxes and wants to claim a credit for those taxes needs to file IRS Form 1116.
Q: What information is required to complete IRS Form 1116?
A: To complete IRS Form 1116, you will need information about the foreign taxes paid, foreign earned income, and other income.
Q: When is the deadline to file IRS Form 1116?
A: The deadline to file IRS Form 1116 is the same as the deadline for your individual income tax return, typically April 15th.
Q: Is there a fee to file IRS Form 1116?
A: There is no separate fee to file IRS Form 1116. However, you may need to pay a fee if you seek professional assistance to prepare your taxes.
Q: Can I electronically file IRS Form 1116?
A: Yes, you can electronically file IRS Form 1116 using tax preparation software or through a tax professional.
Q: What happens if I make a mistake on IRS Form 1116?
A: If you make a mistake on IRS Form 1116, you may need to file an amended return to correct the error.
Q: Can I carry forward unused foreign tax credits from IRS Form 1116?
A: Yes, you can carry forward unused foreign tax credits from IRS Form 1116 to future tax years.
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.
Download a fillable version of IRS Form 1116 through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 1116 Foreign Tax Credit
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