1 1 16 Computation of Foreign Tax Credit OMB No, 1545-0121
Form Individual, Fiduciary, or Nonresident Alien Individual 1 9 8 8
Department of the Treasury > Attach to Form 1040, 1040NR, 1041, or 990-T. attacnwent
Internal Revenue Service > See separate Instructions. ‘Sequence No, 21.
Name Identifying number as shown on page 1 of your tax return

Use a separate Form 1116 for each type of income. Check only one box. This form is being completed for credit for taxes on:

O Passive income O Shipping income O General limitation income—all other income
DO High withholding tax interest O Dividends from an IC-DISC or former DISC from sources outside the United States

including income from sources within U.S.
CO Financial services income C. Distributions from a foreign sales Crewessiens) sour
corporation (FSC) or former FSC

Resident of (name of country) >
Note: /f you paid taxes to one foreign country, use column A in Part | and line A in Part Il. If you paid taxes to more than one foreign
country, use a separate column and line for each country.

Taxable Income From Sources Outside the United States

Foreign Country or U.S. Possession Total
A B c (Add Cols. A, B, and C)
Write the name of the © forelgn country or U.S.
possession. . . woe id
1 Gross income from sources within country shown
above and of the type checked above (see
instructions): oo .....cseseeeeeeeeeeeecceeeeeeeeeeee . Yy
1
2 Applicable deductions and losses (see instructions): Hh YY
a Expenses directly allocable to the income on line 1
(attach schedule) . . . . bone
b Pro rata share of other deductions not directly ty 7]
allocable: / HM
(i) Itemized deductions or standard deduction
(ii) Other deductions (attach schedule) .
(iil) Add lines 2b(i) and 2b(ii) . .
(iv) Total foreign source income (see instructions).
(v) Gross income from all sources (see
instructions) eee
(vi) Divide line 2b(iv) by line 2b(v) .
(vii) Multiply line 2b(iii) by line 2b(vi) . +
¢ Pro rata share of interest expense (see instructions)
d Losses from foreign sources .
e Add lines 2a, 2b(vii),2c,and2d._. . 2e
3 Subtract line 2e from line 1. Enter the result here andinPartill,line6 . . | 7...
izaals Foreign Taxes Paid or Accrued
1. Credit
we) canes taes 2. Foreign taxes paid or accrued
B'| (you must check one): In foreign currency InU.S. dollars
§| O Paid; or it : (d) Othe 7 (h) Oth i) Total foreign t
é 5 Accrued Taxes withheld at source on: tot lena Taxes withheld at source on: f regres faidora foreign’ (oid
Date paid, (a) Dividends aD eities (ointerest | R2tueq | (e) Dividends a enti interest] PAG | OS © (8, @.an
A
B
c
3__Add lines A through C, column (i). Enter the total here and on Partlll, lined... >

For Paperwork Reduction Act Notice, see page 1 of separate Instructions. Form 1116 (1988)


Form 1116 (1988)

Page 2

Computation of Foreign Tax Credit

Check if you are claiming a credit for taxes paid to the Virgin Islands under section 932(b) .

.>o

1 Enter amount from Part Il, line 3. . Tis is the total foreign te taxes paid
oraccrued.) . . . 1
2. Carryback or carryover (attach detailed computation). . . . . . 2
3 Addlinesland2............. 2444. 8
4 Reduction in foreign taxes (see instructions). . . . . . . . = 4
5 Subtract line 4 from line 3. (This is the total amount of foreign taxes available for credit.) . 5
6 Enter amount from Part |, line 3. This is your taxable income or (loss)
from sources outside the United States before adjustments . . . . | 6
7 Adjustments toline 6 (see instructions) . .........LZ
8 Combine the amounts on line 6 and line 7. This is your net foreign source taxable income. (If this is a
loss, you have no foreign | tax credit for the type 0 of income ® you ¢ checked on Page | 1. Skip fi lines 9
through 13.) . . 8
9 Individuals: Enter amount from Form 1040, line 35, or from Form
1040NR, line 34. Estates and trusts: Enter on this line your t taxable
income without the deduction for yourexemption . . . 9
10 Divide line 8 by line 9. (If line 8 is more than line 9, enter the figure ‘'1."") 10
11 Individuals: Enter amount from Form 1040, line 40, less any amounts on Form 1040, lines 41 and
42. Enter amount from Form 1040NR, line 39, less any amount on Form 1040NR, line 40. Estates
and trusts: Enter amount from Form 1041, Schedule G, line 1c, or Form990-T, line8 . LL
12 Multiply line 11 by line 10. (Maximum amount of credit.) 12
13 Enter the amount from line 5 or line 12, whichever is smaller. (If this i is the only Form 1116 you are
completing, skip lines 1 through 7 in Part IV and enter this amount on line 8, Part IV. Otherwise,
complete the appropriate lines in Part IV.)_. - Pm] 13
[uaa Summary of Credits From Separate Parts Ill (See ne Instructions.)
1 Creditfortaxesonpassiveincome . . . ........-. ED
2 Credit for taxes on high withholdingtaxinterest. . . . . . . . L2
3 Credit for taxes on financialservicesincome. . . . . ....(/3
4 Creditfortaxesonshippingincome. . . . ........L4
5 Credit for taxes on dividends from an IC-DISC or former DISC. . . | 5
6 Credit for taxes on distributions from a FSC orformerFSC . . . . | 6
7 Credit for taxes on general limitation income (all other income from
sourcesoutsidetheU.S.). 2... 2 ee eee ee ee LE
8 Addlines 1 through 7 8
9 Reduction of credit for international 1 boycott ‘operations (see «Reduction of credit for International
Boycott Operations” in instructions for Part Ill) . 9
10 Subtract line 9 from line 8. This is your foreign tax credit. Enter here and. on | Form, 1040, line 43:
Form 1040NR, line 41; Form 1041, Schedule G, line 2a; or Form 990-T, line 9a >| 10