Foreign Tax Credits: Form 1116 and Form 1118

Author: Barbara Weltman

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

The focus of this course is on the foreign tax credit for individuals and corporations.

Note: This course does not contain audio.

Publication Date: October 2015

Topics Covered

  • Foreign Taxes Eligible and Not Eligible for Foreign Tax Credits
  • Details About the Foreign Tax Credit
  • Form 1116
  • Form 118
  • Credit Vs. Deduction
  • Special Issues
  • Ancillary Issues including Tax Treaties

Learning Objectives

  • List the types of creditable taxes
  • Explain limitations on the foreign tax credit
  • Discuss special rules for Forms 1116 and 1118

Level
Basic

Format
On-demand

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

Registration Options
Quantity

Fees
Regular Fee$49
Value Pass Fee$0

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