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ISSN 15251292 Vol. 145, No. 11 I SS U E D AT E S 09.03.12 09.17.12 10.08.12 11.05.12 11.19.12 12.10.12 12.17.12 01.07.13 01.28.13 02.18.13 03.11.13 04.01.13 04.22.13 05.13.13 Get t upfront English×LAN
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What is 11 i ss u?
11 i ss u stands for Form 1116, Foreign Tax Credit. It is used by U.S. taxpayers to claim a credit for taxes paid to foreign countries.
Who is required to file 11 i ss u?
U.S. taxpayers who have paid foreign taxes and want to claim a credit on their U.S. tax return are required to file Form 1116.
How to fill out 11 i ss u?
Form 1116 can be filled out by providing details of foreign taxes paid, calculating the foreign tax credit, and including it on the appropriate lines of the U.S. tax return.
What is the purpose of 11 i ss u?
The purpose of Form 1116 is to prevent U.S. taxpayers from being taxed twice on the same income by allowing them to claim a credit for foreign taxes paid.
What information must be reported on 11 i ss u?
Information such as foreign taxes paid, foreign source income, and calculations for the foreign tax credit must be reported on Form 1116.
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