Schedule C Individual - Credit For Taxes Paid To The United States, Its Possessions And Foreign Countries - 2009

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Schedule C Individual
Rev. 01.10
CREDIT FOR TAXES PAID TO THE UNITED STATES, ITS
2009
POSSESSIONS AND FOREIGN COUNTRIES
Taxable year beginning on _________________, _____ and ending on ________________, _____
Social Security Number
Taxpayer's name
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 or lines 9 and 10K, Columns B and C of Schedule CO Individual) ..
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 or line 6,
Columns B and C of Schedule CO Individual) ..................................................................
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 or line 6, Columns B and C of Schedule CO Individual) .
00
2.
Optional standard or itemized deductions and additional deductions
00
(Part 3, lines 8 and 9 of the return or lines 9 and 10K, Columns B and C of Schedule CO Individual) ......................
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 or lines 16, 17 and 18, Columns B and C of
Schedule CO Individual) .................................................................................................................................................
(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 the smaller of line 5 or 6. Transfer to Schedule B Individual, Part II, line 1 or to line 5
of the Worksheet to Determine the Special Additional Tax, as applicable) .............................................................
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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