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for this video tutorial I want to go over the IRS form 1116 for the foreign tax credit so the foreign tax credit form is filed when a taxpayer has foreign Source income and foreign taxes that were paid on those earnings that they might want to claim a tax credit for on their individual or trust income tax return so in our sample here weamp;#39;ve got John Q taxpayers filing a 1040 and it is part of a full tax return so weamp;#39;ll go through the 1040 itself and then the 1116 as well and in addition to this I do have a simple Excel workbook here that summarizes some of the payment information so in our example our taxpayer receive compensation while living abroad working for a Belize company and so weamp;#39;ve got the Belize dollar amounts the amounts translating to US Dollars and weamp;#39;ll weamp;#39;ll show how all this gets reflected on the 1116 and then lastly I do have one slide here covering some background on the 1116 form and then the fact pattern that weamp;#39;re goi
