Welcome to the Foreign Tax Credit and Completing Form 1116 lesson. This lesson discusses the foreign tax credit as it applies to U.S. citizens who:
The lesson explains the steps for completing Form 1116, Foreign Tax Credit (Individual, Estate, or Trust), which Puerto Rican taxpayers generally must complete to claim the credit.
Note: In this lesson, you'll be asked to calculate answers for practice questions. You may want to have a calculator on hand for assistance.