om 1116

Department of the Treasury
Internal Revenue Service

Computation of Foreign Tax Credit
Individual, Fiduciary, or Nonresident Alien Individual

> Attach to Form 1040, 1040NR, 1041, or 990-T.
D> See separate Instructions.

OMB No. 1545-0121

1983
52

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 below.

This form is being completed for credit for taxes on:
(1 Nonbusiness (section 904(d)) interest income
C_ Dividends from a DISC or former DISC

C Allother income from sources outside the United States (including income from

sources within U.S. possessions)

Resident of (name of country)

Note: /f, for the box checked above, you have income from, or have paid taxes to, more than one foreign country or U.S. possession, you
must complete and attach Schedule A (Form 1116), Schedule of Foreign Taxable Income and Foreign Taxes Paid or Accrued. If
you use Schedule A (Form 1116), do not complete Parts | and II below.

PART I.—Taxable Income from Sources Outside the United States

Write the Name of the Foreign Country or U.S. Possession

1 Gross income from sources within country shown above (see instructions):

a Dividends
b= Gross rents and royalties. .

c Foreign source capital gain netincome . .
d= Wages, salaries, and other employee compensation .
e

(Form 1065), and K-1 (Form 1120S))

f Gross income from trusts and estates

g Other (including interest—attach schedule)
h_ Add lines 1a through 1g and enter total here

Business or profession (i.e., Schedules C or F (Form 1040), kK 1

>»

la

1b

1c

1d

le

1f

1g

2 Applicable deductions and losses (see instructions):
a Expenses directly allocable to income online le .

b Depreciation, depletion, repairs, and other expenses directly

allocable to rent and royalty income .

Other expenses directly allocable to specific income e items (attach schedule) 2c

2a

2b

Pro rata share of all other deductions not

directly allocable:

{i) Itemized deductions (attach schedule)

(ii) Other deductions (attach schedule)
(iii) Add lines 2d(i) and 2d(ii) .

(iv) Totalforeignsource income (see instructions).

(v) Gross income from all sources (see in-
structions)

(vi) Divide line 2d(iv) by line 2d(v)

(vii) Multiply line 2d(iii) by line 2d(vi)

e Losses from foreignsources  .
f Add lines 2a through 2e. Enter total here

2d

2e

P| at

3 Subtract line 2f from line 1h. Enter here and in Part III, line 6. This is your taxable income or (loss)
from sources outside the United States (before reca ptul re of prior year overall foreign losses).) _. Pi3

PART II.—Foreign Taxes Paid or Accrued (Attach receipt or copy of return)

Date Paid
or Accrued

1 Credit is claimed for taxes (you must
check one): [] Paid; or 1 Accrued

In Foreign
Currency

In U.S. Dollars

2 Foreign taxes paid or accrued:

a Taxeswithheldatsource ondividends | 2@

b Taxes withheld at source on
rents and royalties . 2b

c Other foreign taxes paid or accrued 2c

d__Add the amounts, in U.S. dollars, on lines 2a through 2c. Enter here andin Parti. line1. . _. Bb | 2d

For Paperwork Reduction Act Notice, see page 1 of separate Instructions.

Form 1116 (1983)


Form 1116 (1983)

Page

PART IIl.—Computation of Foreign Tax Credit

1 Enter amount from Part il, line 2d, or from Schedule A (Form 1116), Part
Il, line 3. (This is the total amount of foreign taxes paid or accrued.) 1
2 Carryback or carryover (attach detailed computation) soe 2
3 Addlinesland2,.................{3
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, or from Schedule A (Form 1116),
Part |, line 3. (This is your taxable income or (loss) from sources out- =
side the United States.) If this is a loss, you have no foreign tax credit
for the type of income you checked on page 1. Skip lines 7 through 17 6
7 Recapture of prior year overall foreign losses (attach computation) . 7
8 Subtract line 7 from line 6. This is your net foreign source taxable income 8
9 Individuals: Enter amount from Form 1040, line 35, or from Form
1040NR, line 38. Estates and trusts: Make no entry; skip toline 11 . 9
10 Enter $3,400 (joint return or widow(er)), $2,300 (single or head of
household), or $1,700 (married filing separate return) . .. . Lo
11 Individuals: Subtract line 10 from line 9. Estates and trusts: Enter on this line your taxable income
without the deduction for your exemption . 11
12 Divide line 8 by line 11. (If line 8 is more than line 11, enter the figure ‘‘1.’”) . L12 |
13 Enter your total U.S. income tax before any credits (see instructions) 13
14 Enter your credit for the elderly (from Form 1040, line 41) 14
15 Subtract line 14 from line 13 . 15
16 Multiply line 15 by line 12. (Maximum amount of credit.) _ . pe
17 Enter the amount from line 5 or line 16, whichever is smaller. (If this is the only Form 1116 you are
completing, skip lines 1 through 3 in Part lV and enter this amount on line 4, Part IV.) . _. .P| 17
PART IV.—Summary of Credits from Separate Parts III (See Instructions)
1 Credit for taxes on nonbusiness (section 904(d)) interest income 1
2 Credit for taxes on dividends from a DISC or former DISC . 2
3 Credit for taxes on all other income from sources outside the United
States (including income from sources within U.S. possessions) . 3
4 — Add lines 1 through 3 4
5 Reduction in credit for international boycott ‘operations (see “Reduction of Credit for International
Boycott Operations” in instructions for Part III) . 5
6 — Subtract line 5 from line 4. This is your foreign tax credit. Enter here and on Form, 1040, line 42;
Form 1040NR, line 44; Form 1041, line 27a; or Form990-T, lineQ(a). . . . . . . . . P| 6