Schedule C Individual - Credit For Taxes Paid To The United States, Its Possessions And Foreign Countries - 2006

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Schedule C Individual
Rev. 12.06
CREDIT FOR TAXES PAID TO THE UNITED STATES, ITS
2006
POSSESSIONS AND FOREIGN COUNTRIES
Taxable year beginning on _________________, _____ and ending on ________________, _____
Taxpayer's name
Social Security Number
Name of place to which taxes were paid
Part I
Determination of Net Income from Sources Outside of Puerto Rico
1.
Adjusted gross income from sources outside of Puerto Rico (See instructions) ...................................................................
00
2.
Optional standard or itemized deductions and additional deductions
(Part 3, lines 8 and 9 of the return) ..................................................................................
00
3.
Adjusted gross income from sources outside of Puerto Rico
(Same as line 1) .............................................................................................................
00
4.
Adjusted gross income from all sources (Part 2,
line 5 of the return) .........................................................................................................
00
%
5.
Divide line 3 by line 4 .....................................................................................................
6.
Multiply line 2 by line 5 ......................................................................................................................................................
00
7.
NET INCOME FROM SOURCES OUTSIDE OF PUERTO RICO (Subtract line 6 from line 1) ...............................
00
Part II
Determination of Net Income from All Sources
1.
Adjusted gross income from all sources (Part 2, line 5 of the return) ...................................................................................
00
2.
Optional standard or itemized deductions and additional deductions
00
(Part 3, lines 8 and 9 of the return) .......................................................................................................................
3.
NET INCOME FROM ALL SOURCES (Subtract line 2 from line 1) .......................................................................
00
Part III
Taxes Paid or Accrued to the United States, its Possessions and Foreign Countries
1.
Credit claimed for taxes:
Paid
Accrued
2.
(a) Date paid or accrued
(b) Taxes paid or accrued during the year
Part IV
Determination of Credit
30
1.
Net income from sources outside of Puerto Rico (Part I, line 7) ..............................................................................
00
2.
Net income from all sources (Part II, line 3) .......................................................................................................................
00
3.
Taxes to be paid in Puerto Rico (Part 4, lines 15,16 and 17 of the return) ......................................................................
(01)
00
%
4.
Divide line 1 by line 2 .......................................................................................................................................................
5.
CREDIT (Multiply line 3 by line 4) ....................................................................................................................................
00
6.
Taxes paid to the United States, its possessions and foreign countries (Part III, line 2(b)) ..................................................
00
7.
CREDIT TO BE CLAIMED (Enter here and on Schedule B Individual, Part II, line 1,
the smaller of line 5 or 6) ..................................................................................................................................
00
(10)
LIMITATION: THE CREDIT SHALL NOT EXCEED THE AMOUNT OF TAXES PAID TO THE
UNITED STATES, ITS POSSESSIONS AND FOREIGN COUNTRIES.
Retention Period: Ten (10) years

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