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This article will help you:

  • Enter foreign income and taxes paid on dividend
  • Enter foreign income and taxes paid on interest
  • Enter foreign income and taxes paid from Schedule K-1s

Before you start:

  • When creating a Form 1116, each form can have up to three countries, as indicated by columns.
  • If you have more then three countries you can create additional copies of the Form 1116.
  • Each Form 1116 can only have one category of income. If you have more then one category of income, use additional copies of the Form 1116. The categories are:
    • Passive,
    • General,
    • Section 901(j),
    • Certain income re-sourced by treaty,
    • Lump-sum distributions
  • If you have more then one copy of the Form 1116 the return isn't eligible for e-file and must be paper filed.