Form 1118 

(Rev. December 2021)

Foreign Tax Credit—Corporations

Department of the Treasury 

Internal Revenue Service 

▶ Attach to the corporation’s tax return.

▶ Go to www.irs.gov/Form1118 for instructions and the latest information.

OMB No. 1545-0123

Attachment 

For calendar year 20 , or other tax year beginning , 20 , and ending , 20 Sequence No. 118

Name of corporation Employer identification number

Use a separate Form 1118 for each applicable category of income (see instructions).

a Separate Category (Enter code—see instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

b If code 901j is entered on line a, enter the country code for the sanctioned country (see instructions) . . . . . . . . . . . . . . ▶

c If one of the RBT codes is entered on line a, enter the country code for the treaty country (see instructions) . . . . . . . . . . . . ▶

Schedule A Income or (Loss) Before Adjustments (Report all amounts in U.S. dollars. See Specific Instructions.)

1. EIN or Reference ID Number 

(see instructions)*

2. Foreign Country or

U.S. Possession 

(enter two-letter code—

use a separate line for 

each) (see instructions)

Gross Income or (Loss) From Sources Outside the United States

3. Inclusions Under Sections 951(a)(1) and 951A 

(see instructions) 4. Dividends 

(see instructions) 5. Interest

 (a) Exclude Gross-Up (b) Gross-Up (section 78) 

A

B

C

Totals (add lines A through C) . . . . . . . . . . . . . . . ▶

 6. Gross Rents, Royalties, 

and License Fees 7. Sales 8. Gross Income From Performance of Services 9. Currency Gain 10. Currency Gain Code (see instructions)

11. Other 

(attach schedule)

12. Total 

(add columns 3(a) 

through 9 and 11)

A

B

C

Totals

13. Allocable Deductions

(a) Dividends 

Received Deduction 

(see instructions)

(b) Deduction Allowed Under 

Section 250(a)(1)(A)—Foreign 

Derived Intangible Income

(c) Deduction Allowed Under 

Section 250(a)(1)(B)—Global 

Intangible Low-Taxed Income

Rental, Royalty, and Licensing Expenses

(f) Expenses Allocable 

to Sales Income

(g) Expenses Allocable 

to Gross Income From 

Performance of Services (d) Depreciation, Depletion, 

and Amortization

(e) Other Allocable 

Expenses 

A

B

C

Totals

13. Allocable Deductions (continued) 14. Apportioned Share 

of Deductions 

(enter amount from 

applicable line of 

Schedule H, Part I, 

column (b), and 

Schedule H, Part II, 

column (d))

15. Net Operating 

Loss Deduction

16. Total Deductions 

(add columns 13(k) 

through 15)

17. Total Income or (Loss) 

Before Adjustments 

(subtract column 16 

from column 12) (h) Currency Loss (i) Currency Loss Code 

(see instructions)

(j) Other Allocable 

Deductions 

(attach schedule) 

(see instructions)

(k) Total Allocable 

Deductions 

(add columns 13(a) 

through 13(h) and 13(j))

 

A

B

C

Totals

*For section 863(b) income, NOLs, income from RICs, high-taxed income, section 951A, and reattribution of income by reason of disregarded payments, use a single line (see instructions). Also, for 

reporting branches that are QBUs, use a separate line for each such branch.

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 10900F Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 2 

Schedule B Foreign Tax Credit (Report all foreign tax amounts in U.S. dollars.)

Part I—Foreign Taxes Paid, Accrued, and Deemed Paid (see instructions)

1. Credit Is Claimed for Taxes 

(check one):

Paid Accrued

2. Foreign Taxes Paid or Accrued (attach schedule showing amounts in foreign currency and conversion rate(s) used)

Tax Withheld at Source on:

(a) Dividends

(b) Distributions of 

Previously Taxed 

Earnings and Profits

(c) Branch Remittances (d) Interest (e) Rents, Royalties, 

and License Fees (f) Other

Date Paid Date Accrued 

A

B

C

Totals (add lines A through C) . ▶

2. Foreign Taxes Paid or Accrued (attach schedule showing amounts in foreign currency and conversion rate(s) used) (continued)

Other Foreign Taxes Paid or Accrued on:

(j) Total Foreign Taxes Paid or Accrued 

(add columns 2(a) through 2(i))

3. Tax Deemed Paid

(see instructions)

(g) Sales (h) Services Income (i) Other 

A

B

C

Totals

Part II—Separate Foreign Tax Credit (Complete a separate Part II for each applicable category of income.)

1a Total foreign taxes paid or accrued (total from Part I, column 2(j)) . . . . . . . . . . . . . . . . . 1a

b 

 

Foreign taxes paid or accrued by the corporation during prior tax years that were suspended due to the rules of

section 909 and for which the related income is taken into account by the corporation during the current tax year 

(see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b

2 Total taxes deemed paid (total from Part I, column 3) . . . . . . . . . . . . . . . . . . . . . 2

3 Reductions of taxes paid, accrued, or deemed paid (enter total from Schedule G, Part I) . . . . . . . . . . 3 ( )

4 Taxes reclassified under high-tax kickout . . . . . . . . . . . . . . . . . . . . . . . . . 4

5 Enter the sum of any carryover of foreign taxes (from Schedule K, line 3, column (xiv), and from Schedule I, Part III, 

line 3) plus any carrybacks to the current tax year . . . . . . . . . . . . . . . . . . . . . . 5

6 Total foreign taxes (combine lines 1a through 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

7 Enter the amount from the applicable column of Schedule J, Part I, line 11 (see instructions). If Schedule J is not required to be completed, 

enter the result from the “Totals” line of column 17 of the applicable Schedule A . . . . . . . . . . . . . . . . . . . . . 7

8a Total taxable income from all sources (enter taxable income from the corporation’s tax return) . . . . . . . . 8a

b Adjustments to line 8a (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . 8b

c Subtract line 8b from line 8a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8c

9 Divide line 7 by line 8c. Enter the resulting fraction as a decimal (see instructions). If line 7 is greater than line 8c, enter 1 . . . . . . . . 9

10 Total U.S. income tax against which credit is allowed (regular tax liability (see section 26(b)) minus any American Samoa economic development 

credit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

11 Multiply line 9 by line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12 Increase in limitation (section 960(c)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

13 Credit limitation (add lines 11 and 12) (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Separate foreign tax credit (enter the smaller of line 6 or line 13). Enter here and on the appropriate line of Part III . . . . . . . . . ▶ 14

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 3 

Schedule B Foreign Tax Credit (Report all foreign tax amounts in U.S. dollars.) (continued)

Part III—Summary of Separate Credits (Enter amounts from Part II, line 14, for each applicable category of income. Do not include taxes paid to sanctioned countries.)

1 Credit for taxes on section 951A category income . . . . . . . . . . . . . . . . . . . . . . 1

2 Credit for taxes on foreign branch category income . . . . . . . . . . . . . . . . . . . . . . 2

3 Credit for taxes on passive category income . . . . . . . . . . . . . . . . . . . . . . . . 3

4 Credit for taxes on general category income . . . . . . . . . . . . . . . . . . . . . . . . 4

5 Credit for taxes on section 901(j) category income (combine all such credits on this line) . . . . . . . . . . 5

6 Credit for taxes on income re-sourced by treaty (combine all such credits on this line) . . . . . . . . . . 6

7 Total (add lines 1 through 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

8 Reduction in credit for international boycott operations (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . 8

9 Total foreign tax credit (subtract line 8 from line 7). Enter here and on the appropriate line of the corporation’s tax return . . . . . . ▶ 9

Schedule C Tax Deemed Paid With Respect to Section 951(a)(1) Inclusions by Domestic Corporation Filing Return (Section 960(a))

Use this schedule to report the tax deemed paid by the corporation with respect to section 951(a)(1) inclusions of earnings from foreign corporations under 

section 960(a). For each line in Schedule C, include the column 10 amount in column 3 of the line in Schedule B, Part I, that corresponds with the identifying 

number specified in column 1 of Schedule A and that also corresponds with the identifying number entered in column 1b of this Schedule C (see instructions).

1a. Name of Foreign Corporation 1b. EIN or Reference ID Number of the Foreign Corporation 

(see instructions) 1c. QBU Reference ID (if applicable)

2. Tax Year End 

(Year/Month) 

(see instructions)

3. Country of Incorporation

(enter country code— 

see instructions)

4. Functional Currency 

of Foreign Corporation 

(enter code— 

see instructions)

5. Subpart F Income Group

 (a) Reg. sec. 

1.960-1(d)(2)(ii)(B)(2) 

(enter code)

(b) Reg. sec. 

1.904-4(c)(3)(i)-(iv) 

(enter code)

(c) Unit

6. Total Net Income in 

Subpart F Income Group 

(in functional currency 

of foreign corporation)

7. Total Current Year Taxes in 

Subpart F Income Group 

(in U.S. dollars)

8. Section 951(a)(1) Inclusion Attributable to Subpart F Income Group 9. Divide Column 8(a) 

by Column 6

10. Tax Deemed Paid 

(multiply column 7 

 (a) Functional Currency (b) U.S. Dollars by column 9) 

Total (add amounts in column 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 4

Schedule D Tax Deemed Paid With Respect to Section 951A Income by Domestic Corporation Filing the Return (Section 960(d))

Use this schedule to figure the tax deemed paid by the corporation with respect to section 951A inclusions of earnings from foreign corporations under 

section 960(d). 

Part I—Foreign Corporation’s Tested Income and Foreign Taxes

1a. Name of Foreign Corporation

1b. EIN or Reference ID Number 

of the Foreign Corporation 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country

code—see

instructions)

4. Functional 

Currency of 

Foreign 

Corporation 

(enter code)

5. Pro Rata Share of CFC’s Tested Income 

From Applicable Form 8992 Schedule 

(see instructions)

6. CFC’s Tested Income 

From Applicable Form 8992 Schedule 

(see instructions)

7. Divide Column 5 

by Column 6

8. CFC’s Tested Foreign Income Taxes 

From Schedule Q (Form 5471) 

(see instructions)

9. Pro Rata Share of Tested Foreign Income 

Taxes Paid or Accrued by CFC 

(multiply column 7 by column 8)

▶

Total (add amounts in column 5)

Total (add amounts in column 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Part II—Foreign Income Tax Deemed Paid

1. Global Intangible Low-Taxed Income 

(section 951A inclusion)

2. Inclusion Percentage. 

Divide Part II, Column 1, by 

Part I, Column 5 Total

3. Multiply Part I, Column 9 Total, by 

Part II, Column 2 Percentage

4. Tax Deemed Paid 

(Multiply Part II, column 3, by 80% (0.80). 

Enter the result here and include on the line of 

Schedule B, Part I, column 3, that corresponds with 

the line with “951A” in column 2 of Schedule A.)

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 5

Schedule E Tax Deemed Paid With Respect to Previously Taxed Earnings and Profits (PTEP) by Domestic Corporation Filing the Return 

(Section 960(b))

Part I—Tax Deemed Paid by Domestic Corporation

Use this part to report the tax deemed paid by the domestic corporation with respect to distributions of PTEP from first-tier foreign corporations under section 960(b). For each line 

in Schedule E, Part I, include the column 11 amount in column 3 of the line in Schedule B, Part I, that corresponds with the identifying number specified in column 1 of Schedule A 

and that also corresponds with the identifying number specified in column 1b of this Schedule E, Part I (see instructions).

1a. Name of Distributing Foreign Corporation

1b. EIN or Reference ID Number 

of the Foreign Corporation 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country

code—see

instructions)

4. Functional Currency 

of the Distributing 

Foreign Corporation

5. PTEP 

Group 

(enter code)

6. Annual 

PTEP Account 

(enter year)

7. Total Amount of PTEP in the PTEP Group 

Within an Annual PTEP Account

8. Total Amount of the PTEP Group 

Taxes With Respect to PTEP Group 

Within an Annual PTEP Account

9. Distribution From the PTEP Group 

Within an Annual PTEP Account

10. Divide Column 9 

by Column 7

11. Foreign Income Taxes 

Properly Attributable to PTEP and 

Not Previously Deemed Paid 

(multiply column 8 by column 10)

Total (add amounts in column 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 6

Schedule E Tax Deemed Paid With Respect to Previously Taxed Earnings and Profits (PTEP) by Domestic Corporation Filing the Return 

(Section 960(b)) (continued)

Part II—Tax Deemed Paid by First- and Lower-Tier Foreign Corporations

Use this part to report the tax deemed paid by a foreign corporation with respect to distributions of PTEP from lower-tier foreign corporations under section 960(b) that relate to 

distributions reported in Part I (see instructions). 

1a. Name of Distributing Foreign Corporation 1b. EIN or Reference ID Number of the Foreign Corporation 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country

code—see

instructions)

4a. Name of Recipient Foreign Corporation 4b. EIN or Reference ID Number of the Foreign Corporation 

(see instructions)

5. Tax Year End 

(Year/Month) 

(see instructions)

6. Country of 

Incorporation 

(enter country 

code—see 

instructions)

7. Functional Currency 

of the Distributing 

Foreign Corporation

8. PTEP Group 

(enter code)

9. Annual PTEP 

Account 

(enter year)

10. Total Amount of 

PTEP in the PTEP Group 

Within an Annual 

PTEP Account

11. Total Amount of 

the PTEP Group Taxes 

With Respect to PTEP Group 

Within an Annual 

PTEP Account

12. PTEP Distributed 13. Divide Column 12 

by Column 10

14. Foreign Income Taxes 

Properly Attributable 

to PTEP and Not 

Previously Deemed Paid 

(multiply column 11 

by column 13)

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 7

Schedule F Reserved

Schedule G Reductions of Taxes Paid, Accrued, or Deemed Paid

Part I—Reduction Amounts

A Reduction of taxes under section 901(e)—Attach separate schedule . . . . . . . . . . . . . . . . . . . . . . . . A

B Reduction of foreign oil and gas taxes—Enter amount from Schedule I, Part II, line 4 . . . . . . . . . . . . . . . . . . B

C Reduction of taxes due to international boycott provisions—Enter appropriate portion from Schedule C (Form 5713) (see instructions). 

Important: Enter only “specifically attributable taxes” here . . . . . . . . . . . . . . . . . . . . . . . . . . . C

D Reduction of taxes for section 6038(c) penalty—Attach separate schedule . . . . . . . . . . . . . . . . . . . . . D

E Taxes suspended under section 909 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E

F Reduction for disallowed taxes under section 965(g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F

G Reduction for disallowed taxes under section 245A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G

H Other reductions in taxes (attach schedule—see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . H

Total (add lines A through H). Enter here and on Schedule B, Part II, line 3 . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Part II—Other Information

I Check this box if, during the tax year, the corporation paid or accrued any foreign tax that was disqualified for credit under section 901(m) . . . . . . . . . ▶

J Check this box if, during the tax year, the corporation paid or accrued any foreign tax that was disqualified for credit under section 901(j), (k), or (l) . . . . . . . ▶

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 8

Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.)

Part I—Research and Experimental Deductions

(a) Gross Receipts Method

Product Line #1 (SIC Code: ) Product Line #2 (SIC Code: )

(b) Total 

R&E Deductions 

(enter the sum of all 

amounts entered in 

all applicable “R&E 

Deductions” 

columns).

(i) Gross Intangible 

Income

(ii) Gross 

Receipts

(iii) R&E 

Deductions

(iv) Gross Intangible 

Income

(v) Gross 

Receipts

(vi) R&E

Deductions 

1 Total (see instructions) . . . . . . . . . . .

2 Exclusive apportionment (50%) to either:

a U.S. source gross intangible income, or . . . . . .

b Foreign source gross intangible income . . . . . .

3 Remaining R&E deductions to be apportioned (line 1 

minus line 2a or line 2b) . . . . . . . . . . .

4 U.S. source gross intangible income/related gross 

receipts/allocated and apportioned R&E deductions

a Gross intangible income/Taxpayer’s gross receipts . .

b Gross intangible income/Controlled parties’ gross receipts

c Gross intangible income/Uncontrolled parties’ gross 

receipts . . . . . . . . . . . . . . . .

d Total line 4 . . . . . . . . . . . . . . .

5 Total foreign source gross intangible income/related 

gross receipts/allocated and apportioned R&E deductions

a Gross intangible income/Taxpayer’s gross receipts . .

b Gross intangible income/Controlled parties’ gross receipts

c Gross intangible income/Uncontrolled parties’ gross 

receipts . . . . . . . . . . . . . . . .

d Total line 5 . . . . . . . . . . . . . . .

Important: See Computer-Generated Schedule H in the instructions. 

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 9

Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) (continued)

Part I—Research and Experimental Deductions (continued)

(a) Gross Receipts Method

Product Line #1 (SIC Code: ) Product Line #2 (SIC Code: )

(b) Total 

R&E Deductions 

(enter the sum of all 

amounts entered in 

all applicable “R&E 

Deductions” 

columns).

(i) Gross Intangible 

Income

(ii) Gross 

Receipts

(iii) R&E 

Deductions

(iv) Gross Intangible 

Income

(v) Gross 

Receipts

(vi) R&E

Deductions 

6 

 

Foreign source gross intangible income/related gross 

receipts/allocated and apportioned R&E deductions

a Enter code

(1) Gross intangible income/Taxpayer’s gross receipts .

(2) Gross intangible income/Controlled parties’ gross receipts

(3) Gross intangible income/Uncontrolled parties’ gross receipts

(4) Add lines 6a(1), 6a(2), and 6a(3) . . . . . . .

(5) Amount of line 3 R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(6) Amount of line 2b R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(7) Total R&E deductions for this separate category. Add 

lines 6a(5) and 6a(6) . . . . . . . . . . .

b Enter code

(1) Gross intangible income/Taxpayer’s gross receipts .

(2) Gross intangible income/Controlled parties’ gross receipts

(3) Gross intangible income/Uncontrolled parties’ gross receipts

(4) Add lines 6b(1), 6b(2), and 6b(3) . . . . . . .

(5) Amount of line 3 R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(6) Amount of line 2b R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(7) Total R&E deductions for this separate category. Add 

lines 6b(5) and 6b(6) . . . . . . . . . . .

Note: Include the amount from column (b) of line 6a(7) in column 14 of the Schedule A that corresponds with the code entered on line 6a. If applicable, you should likewise include 

the amount from column (b) of line 6b(7) in column 14 of the Schedule A that corresponds with the code entered on line 6b. On page 10, you should likewise include the amount(s) 

from column (b) of lines 6c(7), 6d(7), and 6e(7) in column 14 of the Schedule A that corresponds with the code entered on lines 6c, 6d, and 6e, respectively. 

Important: See Computer-Generated Schedule H in the instructions. 

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 10

Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) (continued)

Part I—Research and Experimental Deductions (continued)

(a) Gross Receipts Method

Product Line #1 (SIC Code: ) Product Line #2 (SIC Code: )

(b) Total 

R&E Deductions 

(enter the sum of all 

amounts entered in 

all applicable “R&E 

Deductions” 

columns).

(i) Gross Intangible 

Income

(ii) Gross 

Receipts

(iii) R&E 

Deductions

(iv) Gross Intangible 

Income

(v) Gross 

Receipts

(vi) R&E

Deductions 

c Enter code

(1) Gross intangible income/Taxpayer’s gross receipts .

(2) Gross intangible income/Controlled parties’ gross receipts

(3) Gross intangible income/Uncontrolled parties’ gross receipts

(4) Add lines 6c(1), 6c(2), and 6c(3) . . . . . . .

(5) Amount of line 3 R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(6) Amount of line 2b R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(7) Total R&E deductions for this separate category. Add 

lines 6c(5) and 6c(6) . . . . . . . . . . .

d Enter code

(1) Gross intangible income/Taxpayer’s gross receipts .

(2) Gross intangible income/Controlled parties’ gross receipts

(3) Gross intangible income/Uncontrolled parties’ gross receipts

(4) Add lines 6d(1), 6d(2), and 6d(3) . . . . . . .

(5) Amount of line 3 R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(6) Amount of line 2b R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(7) Total R&E deductions for this separate category. Add 

lines 6d(5) and 6d(6) . . . . . . . . . . .

e Enter code

(1) Gross intangible income/Taxpayer’s gross receipts .

(2) Gross intangible income/Controlled parties’ gross receipts

(3) Gross intangible income/Uncontrolled parties’ gross receipts

(4) Add lines 6e(1), 6e(2), and 6e(3) . . . . . . .

(5) Amount of line 3 R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(6) Amount of line 2b R&E deductions apportioned to this 

separate category . . . . . . . . . . . .

(7) Total R&E deductions for this separate category. Add 

lines 6e(5) and 6e(6) . . . . . . . . . . .

7 

 

Total foreign-source apportioned R&E deductions (add 

lines 6a(7), 6b(7), 6c(7), 6d(7), and 6e(7)). This should 

equal the amount entered on line 5d of this column . ▶

Important: See Computer-Generated Schedule H in the instructions. 

Form 1118 (Rev. 12-2021)
Form 1118 (Rev. 12-2021) Page 11

Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) (continued)

Part II—Interest Deductions, All Other Deductions, and Total Deductions

(a) Average Value of Assets— 

Check Method Used:

Tax book value

Alternative tax book value

(b) Interest Deductions (c) All Other

Deductions 

(attach schedule) 

(see instructions)

(d) Totals 

(add the amounts 

from columns (b)(iii), 

(b)(iv), and (c))

Additional note: With 

respect to each 

applicable statutory 

grouping, enter the 

amount in column (d) 

of line 3a(2), 3b(2), 3c

(2), 3d(2), 3e(2), 

or 3f(2) below in 

column 14 of the 

corresponding 

Schedule A.

(i) Nonfinancial

Corporations

(ii) Financial 

Corporations

(iii) Nonfinancial

Corporations

(iv) Financial

Corporations 

1a Totals (see instructions) . . . . . . . . . . . . .

b Amounts specifically allocable under Temporary Regulations 

section 1.861-10T(e) . . . . . . . . . . . . . .

c Other specific allocations under Temporary Regulations section 1.861-10T 

d Assets excluded from apportionment formula . . . . . .

2 Total to be apportioned (subtract the sum of lines 1b, 1c, and 

1d from line 1a) . . . . . . . . . . . . . . . .

3 Apportionment among statutory groupings (see instructions):

a Enter code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line a . . . . . . . . . . . . . . . .

b Enter code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line b . . . . . . . . . . . . . . . .

c Enter code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line c . . . . . . . . . . . . . . . .

d Enter code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line d . . . . . . . . . . . . . . . .

e Enter code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line e . . . . . . . . . . . . . . . .

f Enter code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line f . . . . . . . . . . . . . . . .

4 Total foreign (add lines 3a(3), 3b(3), 3c(3), 3d(3), 3e(3), and 3f(3)) ▶

Section 904(b)(4) Adjustments

5 Expenses Allocated and Apportioned to Foreign Source Section 245A Dividend. Enter the sum of amounts in column (d) of lines 3a(1), 3b(1), 3c(1), 

3d(1), 3e(1), and 3f(1). Include this line 5 result as a negative amount on Schedule B, Part II, line 8b . . . . . . . . . . . . . . . . 5

6 Enter expenses allocated and apportioned to U.S. source section 245A dividend. Include this line 6 amount as a negative amount on Schedule B, 

Part II, line 8b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

Form 1118 (Rev. 12-2021)