Form 1116-2025

Show details

4 out of 5

34 votes

Form 1116 is a document used by individuals, estates, or trusts to claim the Foreign Tax Credit on their U.S. tax returns. It requires taxpayers to report foreign income and taxes paid or accrued in various categories, allowing them to reduce their U.S. tax liability based on foreign taxes paid. The form includes sections for detailing taxable income from foreign sources, deductions, and calculating the total foreign tax credit available.

Here's how it works

01. Edit your 1116 online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send 1116 form via email, link, or fax. You can also download it, export it or print it out.

The fastest way to redact Form 1116 online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Dochub is the best editor for modifying your paperwork online. Follow this simple guide to edit Form 1116 in PDF format online at no cost:

Sign up and log in. Register for a free account, set a secure password, and proceed with email verification to start managing your forms.
Add a document. Click on New Document and choose the file importing option: upload Form 1116 from your device, the cloud, or a protected link.
Make adjustments to the sample. Use the top and left panel tools to redact Form 1116. Add and customize text, pictures, and fillable areas, whiteout unnecessary details, highlight the significant ones, and provide comments on your updates.
Get your paperwork done. Send the sample to other parties via email, generate a link for quicker document sharing, export the sample to the cloud, or save it on your device in the current version or with Audit Trail included.

Try all the benefits of our editor today!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Who qualifies for foreign tax credit?

The foreign tax credit is a U.S. tax break that offsets income tax paid to other countries. The credit is available to U.S. citizens and residents who earn income abroad and have paid foreign income taxes. Foreign taxes on income, wages, dividends, interest, and royalties generally qualify for the foreign tax credit.

What is the income limit for the foreign tax credit?

Foreign Tax Credit vs. This provision allows taxpayers to exclude foreign earned income from their taxable U.S. federal income, up to a limit of $120,000.

Can I skip the foreign tax credit?

As a general rule, you must choose to take either a credit or a deduction for all qualified foreign taxes. If you choose to take a credit for qualified foreign taxes, you must take the credit for all of them.

What is the threshold for filing form 1116?

This threshold is $300, or $600 if married and filing jointly. screen, it will report on Schedule 3 (Form 1040) without review of exemption requirements.

Who fills out form 1116?

File Form 1116, Foreign Tax Credit, to claim the foreign tax credit if you are an individual, estate or trust, and you paid or accrued certain foreign taxes to a foreign country or U.S. possession. Corporations file Form 1118, Foreign Tax CreditCorporations, to claim a foreign tax credit.

1116 form 2021

Form 1116 instructions Form 1116 pdf Form 1116 instructions 2023 Form 1116 instructions 2022 Form 1116 2023 Form 1116 Schedule B Form 1116 instructions 2024 Form 1116 example