Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Foreign Tax Credit and Completing Form 1116

Introduction

Lesson Objectives

At the end of this lesson, you will be able to:

  • Determine which sources of taxable income can be claimed for the foreign tax credit
  • Identify and define the types of Puerto Rico source income that are eligible for the foreign tax credit
  • Compute the foreign tax credit accurately for Puerto Rico taxpayers using Form 1116

Estimated time to complete: 40 minutes