Form 1116 - Foreign Tax Credit - 2014
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21116
Foreign Tax Credit
OMB No. 1545-0121
2014
Form
(Individual, Estate, or Trust)
Attach to Form 1040, 1040NR, 1041, or 990-T.
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Attachment
Department of the Treasury
19
Information about Form 1116 and its separate instructions is at
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Sequence No.
Internal Revenue Service (99)
Identifying number as shown on page 1 of your tax return
Name
Use a separate Form 1116 for each category of income listed below. See Categories of Income in the instructions. Check only one box on each
Form 1116. Report all amounts in U.S. dollars except where specified in Part II below.
a
c
e
Passive category income
Section 901(j) income
Lump-sum distributions
b
d
General category income
Certain income re-sourced by treaty
f Resident of (name of country)
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Note: If you paid taxes to only one foreign country or U.S. possession, use column A in Part I and line A in Part II. If you paid taxes to
more than one foreign country or U.S. possession, use a separate column and line for each country or possession.
Part I
Taxable Income or Loss From Sources Outside the United States (for Category Checked Above)
Foreign Country or U.S. Possession
Total
(Add cols. A, B, and C.)
A
B
C
g
Enter the name of the foreign country or U.S.
possession
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1a Gross income from sources within country shown
above and of the type checked above (see
instructions):
1a
b
Check if line 1a is compensation for personal
services
as
an
employee,
your
total
compensation from all sources is $250,000 or
more, and you used an alternative basis to
determine its source (see instructions) .
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Deductions and losses (Caution: See instructions):
2
Expenses definitely related to the income on line
1a (attach statement)
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3
Pro rata share of other deductions not definitely
related:
a
Certain itemized deductions or standard deduction
(see instructions) .
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b
Other deductions (attach statement) .
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c
Add lines 3a and 3b .
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d
Gross foreign source income (see instructions)
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e
Gross income from all sources (see instructions) .
f
Divide line 3d by line 3e (see instructions) .
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g
Multiply line 3c by line 3f
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4
Pro rata share of interest expense (see instructions):
a
Home mortgage interest (use the Worksheet for
Home Mortgage Interest in the instructions)
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b
Other interest expense .
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5
Losses from foreign sources .
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6
Add lines 2, 3g, 4a, 4b, and 5 .
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6
Subtract line 6 from line 1a. Enter the result here and on line 15, page 2
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7
7
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Part II
Foreign Taxes Paid or Accrued (see instructions)
Credit is claimed
Foreign taxes paid or accrued
for taxes
(you must check one)
(h)
Paid
In foreign currency
In U.S. dollars
(r) Other
(s) Total foreign
(i)
Accrued
Taxes withheld at source on:
Taxes withheld at source on:
(n) Other
foreign taxes
taxes paid or
foreign taxes
(j) Date paid
(l) Rents
(p) Rents
paid or
paid or
accrued (add cols.
(m) Interest
(o) Dividends
(k) Dividends
(q) Interest
or accrued
and royalties
and royalties
accrued
accrued
(o) through (r))
A
B
C
8
Add lines A through C, column (s). Enter the total here and on line 9, page 2 .
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1116
For Paperwork Reduction Act Notice, see instructions.
Form
(2014)
Cat. No. 11440U
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