Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Foreign Tax Credit

Introduction

Objectives

After completing this lesson, using your resource materials, you will be able to:

  • Determine which taxes and types of foreign income are eligible for the foreign tax credit
  • Compute the credit accurately using Form 1116
  • Calculate and report the foreign tax credit as a nonrefundable credit

Estimated time to complete: 40 minutes