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

Foreign Tax Credit and Completing Form 1116

Completing Form 1116

Part IV

Summary of Credits from Separate Parts III

Use Form 1116, Part IV, to summarize the credit.

If the taxpayer has:

  • One category of foreign income, enter the amount from line 24 on line 33
  • More than one category of foreign income and has multiple Forms 1116, complete Part IV on only one of them; for these taxpayers, complete the appropriate lines in Part IV. This is out of scope for VITA.
Form 1116, Part IV