Foreign Tax Credit

Foreign Tax Credit OMB No. 1545-0121 F.1116 Department of the Treasury Marna, Ravens Sconce (99) Name (Individual, Estate, or Trust) Do Attach to Form 1040, 1040NR, 1041, or 990-T. ► Go to wwwirs.gov/Form1116 for instructions and the latest information. 2018 Attachment Sequence No. 19 Identifying number as shown on page 1 of your tax return Use a separate Fowl 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. 80 Section 951A Income cO Passive category income eD Section 9016) Income gD Lump-sum distributions bO Foreign branch income clO General category income f 0 Certain income re-sourced by treaty h Resident of (name of country) P. 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 cateoory checked abov i Enter the name of the foreign country or U S possession P. 1a Gross income from sources within country shown above and of the type checked above (see instructions): b Check if line la 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) . . IP. 0 Foreign Country or U.S. Possession Total (Add cols. 0. B, and C.) A B C la Deductions and losses (Caution: See Instructions.): 2 Expenses definitely related to the income on line 1 a (attach statement) 3 Pro rata share of other deductions not definitely related: a Certain itemized deductions or standard deduction (see instructions) b Other deductions (attach statement) c Add lines 3a and 3b d Gross foreign source income (see instructions) e Gross income from all sources (see instructions) f Divide line 3d by line 3e (see instructions) . . g Multiply line 3c by line 3f 4 Pro rata share of interest expense (see instructions): a Home mortgage interest (use the Worksheet for Home Mortgage Interest in the instructions) b Other interest expense 5 Losses from foreign sources 6 Add fines 2, 3g, 4a, 4b, and 5 6 7 Subtract line 6 from line 1 a. Enter the result here and on line 15. page 2 PP 7 Part II Foreign Taxes Paid or Accrued (see instructions) z., C O O Credit for (you must (I) (k) Is claimed taxes check one) . Paid O Accrued Foreign taxes paid or accrued In foreign currency In U.S. dollars Taxes withheld at source on: (p) Other Taxes withheld at source on: (t) Other (u) Total foreign (m) Dividends (it) Rents. and royalties (o) Interest foreign taxes Paid Of accrued (q) Dividends 44 Rents and royalties 03) Interest foreign taxes paid a accrued taxes paid or (add cols. (q) through (t)) (I) Date paid or accrued A B C 8 Add lines A through C, column (u). Enter the total here and on line 9, page 2 Ir. 8 For Paperwork Reduction Act Notice, see instructions. Form 1116 (2018) EFTA01222611 Form 1116 (2018) Page 2 9 Enter the amount from line 8. These are your total foreign taxes paid or accrued for the category of income checked above Part I 10 Canyback or carryover (attach detailed computation) . . . (If your income was section 951A income (box a above Part I), leave line 10 blank.) 11 Add lines 9 and 10 12 Reduction in foreign taxes (see instructions) 13 Taxes reclassified under high tax kickout (see instructions) 14 Combine lines 11. 12. and 13. This is the total amount of foreign taxes available for credit . . 14 15 Enter the amount from line 7. This is your taxable income or (loss) from sources outside the United States (before adjustments) for the category of income checked above Part I (see instructions) 15 16 Adjustments to line 15 (see instructions) 17 Combine the amounts on lines 15 and 16. This is your net foreign source taxable income. (If the result is zero or less, you have no foreign tax credit for the category of income you checked above Part I. Skip lines 18 through 22. However. if you are filing more than one Form 1116. you must complete line 20 ) 18 Individuals: Enter the amount from Form 1040. line 10; or Form 1040NR. line 41. Estates and trusts: Enter your taxable income without the deduction for your exemption Caution: If you figured your tax using the lower rates on qualified dividends or capital gains, see instructions. 19 Divide line 17 by line 18. If line 17 is more than line 18. enter "1' 19 20 Individuals: Enter the total of Form 1040. line 11a. and Schedule 2 (Form 1040). line 46. If you are a nonresident alien, enter the total of Form 1040NR. lines 42 and 44. Estates and trusts: Enter the amount from Form 1041. Schedule G. line la; or the total of Form 990-T. lines 40, 41, and 43. Foreign estates and trusts should enter the amount from Form 1040NR. line 42 Caution: If you are completing line 20 for separate category g (lump-sum distributions), see instructions. 21 Multiply line 20 by line 19 (maximum amount of credit) 22 Enter the smaller of line 14 or line 21. If this is the only Form 1116 you are filing, skip lines 23 through 30 and enter this amount on line 31. Otherwise, complete the appropriate line in Part IV (see instructions) ► Summary of Credits From Separate Parts III (see instructions) 23 Credit for taxes on section 951A income 24 Credit for taxes on foreign branch income 25 Credit for taxes on passive category income 26 Credit for taxes on general category income 27 Credit for taxes on section 901(j) income 28 Credit for taxes on certain income re•sourced by treaty . 28 29 Credit for taxes on lump-sum distributions 30 Add lines 23 through 29 31 Enter the smaller of line 20 or line 30 32 Reduction of credit for international boycott operations. See instructions for line 12 33 Subtract line 32 from line 31. This is your foreign tax credit. Enter here and on Schedule 3 (Form 1040). line 48: Form 1040NR. line 46: Form 1041. Schedule G. line 2a: or Form 990-T. line 45a . ► 24 25 26 27 29 30 31 32 23 33 Form 1116 12018) EFTA01222612