SCHEDULE B 

(Form 1116)

(December 2021)

Foreign Tax Carryover Reconciliation Schedule

Department of the Treasury 

Internal Revenue Service 

▶ See separate instructions.

▶ Attach to Form 1116.

▶ Go to www.irs.gov/Form1116 for instructions and the latest information.

OMB No. 1545-0121 For calendar year 20 , or other tax year beginning , 20 , and ending , 20 .

Name Identifying number as shown 

on page 1 of your tax return 

Use a separate Schedule B (Form 1116) for each applicable category of income listed below. See instructions. Check only one box on each schedule.

Check the box for the same separate category code as that shown on the Form 1116 to which this Schedule B is attached.

a Reserved for future use

b Foreign branch category income

c Passive category income

d General category income

e Section 901(j) income

f Certain income re-sourced by treaty

g Lump-sum distributions

h If box e is checked, enter the country code for the sanctioned country. See instructions . . . . . . . . . . . . . . . . . . ▶

i If box f is checked, enter the country code for the treaty country. See instructions . . . . . . . . . . . . . . . . . . . . ▶

Foreign Tax Carryover 

Reconciliation

(i) 

10th Preceding

Tax Year

(ii) 

9th Preceding

Tax Year

(iii) 

8th Preceding

Tax Year

(iv) 

7th Preceding

Tax Year

(v) 

6th Preceding

Tax Year

(vi) 

5th Preceding

Tax Year

(vii) 

Subtotal 

(add columns (i)

through (vi))

1 Foreign tax carryover from the prior 

tax year (enter amounts from the 

appropriate columns of line 6 of the 

worksheet in the instructions)

2 Adjustments to line 1 (enter 

description—see instructions):

a Carryback adjustment (see instructions)

b Adjustments for section 905(c) 

redeterminations (see instructions)

c

d

e

f

g

3 Adjusted foreign tax carryover from 

prior tax year (combine lines 1 and 2)

4 Foreign tax carryover used in current 

tax year (enter as a negative number)

5 Foreign tax carryover expired unused 

in current tax year (enter as a negative 

number)

6 Foreign tax carryover generated in 

current tax year

7 Actual or estimated amount of line 6 

to be carried back to prior tax year 

(enter as a negative number)

8 Foreign tax carryover to the following 

tax year. Combine lines 3 through 7. -0-

For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 75186F Schedule B (Form 1116) (12-2021)
Schedule B (Form 1116) (12-2021) Page 2 

Foreign Tax Carryover 

Reconciliation (continued)

(viii) 

Subtotal from page 1 

(enter the amounts from 

column (vii) on page 1)

(ix) 

4th Preceding

Tax Year

(x) 

3rd Preceding

Tax Year

(xi) 

2nd Preceding

Tax Year

(xii) 

1st Preceding

Tax Year

(xiii)

Current 

Tax Year

(xiv) 

Totals 

(add columns (viii)

through (xiii))

1 Foreign tax carryover from the prior 

tax year (enter amounts from the 

appropriate columns of line 6 of the 

worksheet in the instructions)

2 Adjustments to line 1 (enter 

description—see instructions):

a Carryback adjustment (see instructions)

b Adjustments for section 905(c) 

redeterminations (see instructions)

c

d

e

f

g

3 Adjusted foreign tax carryover from 

prior tax year (combine lines 1 and 2). 

Include the column (xiv) total on the

current year Form 1116, Part III, line 10.

4 Foreign tax carryover used in current 

tax year (enter as a negative number)

5 Foreign tax carryover expired unused 

in current tax year (enter as a negative 

number)

6 Foreign tax carryover generated in 

current tax year

7 Actual or estimated amount of line 6 

to be carried back to prior tax year 

(enter as a negative number)

8 Foreign tax carryover to the following 

tax year. Combine lines 3 through 7.

Schedule B (Form 1116) (12-2021)