View Full Version : Form 1116 tax credit
Trishala Raj
Sep 15, 2019, 07:50 PM
Hi,
When I Use Form 1116, to get foreign credit should I take the Gross salary and rent or is it net?
Thanks
AtlantaTaxExpert
Sep 15, 2019, 09:49 PM
Use the gross salary.
Use net rent.
You CANNOT claim rent and salary on the same Form 1116, because rent and salary are different types of income.
Trishala Raj
Sep 16, 2019, 04:37 AM
Thank you so much for your response. I appreciate it.
AtlantaTaxExpert
Sep 16, 2019, 07:14 AM
To be clear, for the salary, you need to file Form 1116 for "general" income, and for the rent, you need to file a separate Form 1116 for "passive" income.