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-   -   Form 1116 tax credit (https://www.askmehelpdesk.com/showthread.php?t=846463)

  • Sep 15, 2019, 07:50 PM
    Trishala Raj
    Form 1116 tax credit
    Hi,

    When I Use Form 1116, to get foreign credit should I take the Gross salary and rent or is it net?

    Thanks
  • Sep 15, 2019, 09:49 PM
    AtlantaTaxExpert
    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.
  • Sep 16, 2019, 04:37 AM
    Trishala Raj
    Thank you so much for your response. I appreciate it.
  • Sep 16, 2019, 07:14 AM
    AtlantaTaxExpert
    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.

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