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T111e ti restless né, 1a111l l1,1e11e l1191strJune 2, 2017 David Angstrom Maple wood Portland, OR Dear Brothers, Sister, Nieces, Nephews & Friends Your Dad and Grandpa left home in his late teens
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What is 1 11e t ti?
1 11e t ti refers to the form 1116 used by individuals, estates, or trusts to claim a foreign tax credit.
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Individuals, estates, or trusts who have paid foreign taxes on income earned outside the U.S. are required to file Form 1116.
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To fill out Form 1116, you need to provide information on the foreign income earned, foreign taxes paid, and calculate the foreign tax credit.
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The purpose of Form 1116 is to prevent double taxation on income earned outside the U.S. by allowing a credit for foreign taxes paid.
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Form 1116 requires information on foreign income, foreign taxes paid, calculations for the foreign tax credit, and adjustments to income.
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