Not your question?
Ask your question
View similar questions
Add your answer here.Check out some similar questions!
Form 2555 & Form 1116
[ 2 Answers ]
Dear All - Can a taxpayer, who is a Lawful Permanent Resident of US, file Form 2555 - Foreign Income Exclusion for the income earned by him in another country (outside US) and claim Foreign Tax Credit for the same income? What are the reporting requirements to file Form 2555? Which one of...
Filling 1116 - foreign tax credit
[ 6 Answers ]
Hello I am having trouble filling out form 1116. For Jan 07 through Dec 2007 I have US income. During the same year for Jan 2007 through March 2007 - I have paid taxes ($1634) in India on the income earned in the US for these 3 months (Gross Income $17495) . US taxes were also deducted atr...
Foreign Tax Credit Form 1116
[ 1 Answers ]
Over the past year I owned two Canadian oil royalty trusts which I sold in November. During that time I paid a total of $425 in taxes to Canada on the dividends. Anyone have an idea how to fill out form 1116? Looks very complicated. Or do you know of some source that has instructions for a...
Tax software for calculating foreign tax credits on Form 1116
[ 7 Answers ]
Hi there. I wonder if anyone can advise me which is the best software for filling out Form 1116? I am using Turbotax 'Home and Business' and the IRS instructions together to fill mine out, but the IRS instructions are SO complicated and the Turbotax software assumes that you know a lot about...
Form 1116, foreign tax credit: Tax paid vs tax accrued, exchange rates and dates
[ 2 Answers ]
Hi, I'm applying for foreign tax credit on taxes I've paid / accrued on interest earned in savings accounts and certificate deposits in New Zealand. For cds, the bank statements don't give precise dates for when taxes were withheld. And so I have several questions relating to form 1116, Part II: ... View more questions Search
|