Foreign Tax Credit - Corporations

• Legal Form Number: 1118
• Year: 2022
• Issuer: Treasury Department
• Section: Treasury Department

Form 1118

(Rev. December 2022)

Foreign Tax Credit—Corporations

Department of the Treasury

Internal Revenue Service

Attach to the corporation’s tax return.

Go to www.irs.gov/Form1118 for instructions and the latest information.

OMB No. 1545-0123

Attachment

Sequence No. 118

For calendar year 20 , or other tax year beginning , 20 , and ending , 20

Name of corporation

Employer identification number

Use a separate Form 1118 for each applicable category of income (see instructions).

aSeparate Category (Enter code—see instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

bIf code 901j is entered on line a, enter the country code for the sanctioned country (see instructions) . . . . . . . . . . . . . . . .

cIf one of the RBT codes is entered on line a, enter the country code for the treaty country (see instructions) . . . . . . . . . . . . . .

Schedule A Income or (Loss) Before Adjustments (Report all amounts in U.S. dollars. See Specific Instructions.)

1. EIN or Reference ID Number

(see instructions)*

2. Foreign Country or

U.S. Possession

(enter two-letter code—

use a separate line for

each) (see instructions)

Gross Income or (Loss) From Sources Outside the United States

3. Inclusions Under Sections 951(a)(1) and 951A

(see instructions) 4. Dividends

(see instructions) 5. Interest

(a) Exclude Gross-Up (b) Gross-Up (section 78)

A

B

C

Totals (add lines A through C) . . . . . . . . . . . . . . . .

6. Gross Rents, Royalties,

and License Fees 7. Sales 8. Gross Income From

Performance of Services 9. Currency Gain 10. Currency Gain Code

(see instructions)

11. Other

(attach schedule)

12. Total

(add columns 3(a)

through 9 and 11)

A

B

C

Totals

13. Allocable Deductions

(a) Dividends

Received Deduction

(see instructions)

(b) Deduction Allowed Under

Section 250(a)(1)(A)—Foreign

Derived Intangible Income

(c) Deduction Allowed Under

Section 250(a)(1)(B)—Global

Intangible Low-Taxed Income

Rental, Royalty, and Licensing Expenses

(f) Expenses Allocable

to Sales Income

(g) Expenses Allocable

to Gross Income From

Performance of Services

(d) Depreciation, Depletion,

and Amortization

(e) Other Allocable

Expenses

A

B

C

Totals

13. Allocable Deductions (continued) 14. Apportioned Share

of Deductions

(enter amount

from applicable

line of Schedule H,

Part I, column (b);

Part II, column (f); and

Part III, column (g))

15. Net Operating

Loss Deduction

16. Total Deductions

(add columns 13(k)

through 15)

17. Total Income or (Loss)

Before Adjustments

(subtract column 16

from column 12)

(h) Currency Loss (i) Currency Loss Code

(see instructions)

(j) Other Allocable

Deductions

(attach schedule)

(see instructions)

(k) Total Allocable

Deductions

(add columns 13(a)

through 13(h) and 13(j))

A

B

C

Totals

*

For section 863(b) income, NOLs, income from RICs, high-taxed income, section 951A, and reattribution of income by reason of disregarded payments, use a single line (see instructions). Also, for

reporting branches that are QBUs, use a separate line for each such branch.

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 10900F Form 1118 (Rev. 12-2022)