Form 1116-Foreign Tax Credit

This document is an IRS Form 1116 for claiming foreign tax credits. It allows taxpayers to calculate foreign tax credits for different categories of foreign source income. The form has several parts: Part I is for reporting foreign source income and deductions by country. Part II is for reporting foreign taxes paid by country. Part III calculates the allowable foreign tax credit. Part IV summarizes the credits from separate Parts III if filing for multiple categories of income.