Foreign Tax Credit Workout

Skills Workout

• Workout Resources
  • Publication 4491 Foreign Tax Credit
  • Intake/Interview & Quality Review Sheet
  • Foreign Tax Credit Job Aids from Publication 4012
• Election To Claim Foreign Tax Credit Without Filing Form 1116
  • Case Study 1: FTC Without Form 1116
  • Skills Warm Up: FTC Without Form 1116
• Qualifying Requirements
  • Case Study 1: Nonqualifying Taxes
  • Case Study 2: Nonqualifying Taxes
  • Skills Warm Up: Qualifying Requirements
• Economic Benefit
  • Case Study 1: No Economic Benefit
  • Skills Warm Up: Sanctioned Country Restrictions
  • Skills Warm Up: FTC Qualifications
• Types of Income
  • Case Study 1: General Category Income
  • Case Study 2: General Category Income
  • Skills Warm Up: Types of Income
  • Skills Warm Up: General vs. Passive Income
  • Case Study 3: FTC Eligibility
• Out of Scope
  • Out of Scope Situations for VITA/TCE
• Skills Workout
  • Certification Warm Up: Question 1 of 3
  • Certification Warm Up: Drill & Practice
• More Resources and Practice
  • More Resources and Practice

Publication 514, Foreign Tax Credit for Individuals

Publication 4012, Form 1116 – Foreign Tax Credit

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