Foreign Tax Credit - Corporations

Legal Form Number1118
IssuerTreasury Department
SectionTreasury 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)

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