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

Foreign Tax Credit and Completing Form 1116

Summary and Exercises

Question 3 of 5

To qualify for the foreign tax credit, taxpayers must meet all except which one of these requirements?

Have foreign or Puerto Rico source income taxable to the U.S.
Have paid taxes on that income to a foreign country or possession
Claim the standard deduction instead of itemizing deductions
Cannot claim a foreign tax credit for taxes paid on excluded income