An overview of the foreign tax credit includes what taxes qualify for the foreign tax credit, how claiming the foreign tax impacts other tax return items, basic calculation issues, exceptions to filing Form 1116, and foreign earned income exclusion.

Learning Objectives

  • Describe what foreign income taxes are creditable and which are not.
  • Explain how to complete a basic Form 1116 and when Form 1116 is not needed to claim the foreign tax credit.
  • Calculate the interaction between the foreign earned income exclusion and the foreign tax credit.

Education Information

IRS Program Number: NMVBP-T-00184-21-S

Length: 100 minutes plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Basic

Delivery Method: Self-Study

Field of Study: Federal Tax (IRS);

Credit hours: 2 IRS CE

Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here for more information regarding our education policies.

You may also be interested in...

  • $149.00

    $149.00Form 1116 - Advanced Issues

    Buy Now
  • $79.00

    $79.00Form 709 Preparation

    Buy Now
  • $149.00

    $149.00Income Tax Treaties

    Buy Now