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

Foreign Tax Credit Workout

Election To Claim Foreign Tax Credit Without Filing Form 1116

Case Study 1: FTC Without Form 1116

Ryan, who is single, received Form 1099-DIV that shows $29 of foreign taxes paid. According to Ryan, he received no other foreign source of income and paid no other foreign taxes. The dividends were paid on shares of a mutual fund that he owned all year. He is eligible to claim the $29 foreign tax credit on Form 1040, page 2, and does not have to file Form 1116.

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Ryan.