Form 1118 — Foreign Tax Credit - Corporations

Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/f1118.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

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Form

(Rev. December 2025) 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.

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

OMB No. 1545-0123

Attachment Sequence No. 118

Name of corporation Employer identification number

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

a Separate Category (Enter code—see instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b If code 901j is entered on line a, enter the country code for the sanctioned country (see instructions) . . . . . . . . . . . . . . . . c If 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 . )

• 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 and enter the applicable code in column 1(b) (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. 12-2025) Created 11/25/25

Form 1118 (Rev. 12-2025) Page 2 Schedule B Foreign Tax Credit (Report all foreign tax amounts in U.S. dollars.) Part I—Foreign Taxes Paid, Accrued, and Deemed Paid (see instructions)

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 3 Schedule B Foreign Tax Credit (Report all foreign tax amounts in U.S. dollars.) (continued) Part III—Summary of Separate Credits (Enter amounts from Part II, line 14, for each applicable category of income. Do not include taxes paid to sanctioned countries.)

Use this schedule to report the tax deemed paid by the corporation with respect to section 951(a)(1) inclusions of earnings from foreign corporations under section 960(a). For each line in Schedule C, include the column 10 amount in column 3 of the line in Schedule B, Part I, that corresponds with the identifying number specified in column 1 of Schedule A and that also corresponds with the identifying number entered in column 1b of this Schedule C (see instructions).

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 4 Schedule D Tax Deemed Paid With Respect to Section 951A Income by Domestic Corporation Filing the Return (Section 960(d)) Use this schedule to figure the tax deemed paid by the corporation with respect to section 951A inclusions of earnings from foreign corporations under section 960(d). Part I—Foreign Corporation’s Tested Income and Foreign Taxes

1. Global Intangible Low-Taxed Income (section 951A inclusion)

2. Inclusion Percentage. Divide Part II, Column 1, by

Part I, Column 5 Total

3. Multiply Part I, Column 9 Total, by Part II, Column 2 Percentage

4. Tax Deemed Paid (Multiply Part II, column 3, by 80% (0.80). Enter the result here and include on the line of Schedule B, Part I, column 3, that corresponds with

the line with “951A” in column 2 of Schedule A.)

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 5 Schedule E Taxes Paid, Accrued, or Deemed Paid With Respect to Previously Taxed Earnings and Profits (PTEP) by Domestic Corporation Filing the Return (Sections 901 and 960(b)) Part I—Taxes Paid, Accrued, and Deemed Paid by Domestic Corporation

Use this part to report the tax paid or accrued under section 901, and tax deemed paid under section 960(b), by the domestic corporation with respect to distributions of PTEP from first-tier foreign corporations. For each line in Schedule E, Part I, include the column 11 amount in column 3 of the line in Schedule B, Part I, that corresponds with the identifying number specified in column 1 of Schedule A and that also corresponds with the identifying number specified in column 1b of this Schedule E, Part I. Also include the column 12 and 13 amounts in lines F and H of Schedule G, respectively (see instructions). For each line in Schedule E, Part I, include the column 14 amount in column 2(b)(1) of the line in Schedule B, Part I, that corresponds with the identifying number specified in column 1(a) of Schedule A and that also corresponds with the identifying number specified in column 1b of this Schedule E, Part I. Also include the column 15 and 16 amounts in lines F and H of Schedule G, respectively (see instructions).

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 6 Schedule E Taxes Paid, Accrued, or Deemed Paid With Respect to Previously Taxed Earnings and Profits (PTEP) by Domestic Corporation Filing the Return (Sections 901 and 960(b)) (continued) Part II—Tax Deemed Paid by First- and Lower-Tier Foreign Corporations Use this part to report the tax deemed paid by a foreign corporation with respect to distributions of PTEP from lower-tier foreign corporations under section 960(b) that relate to distributions reported in Part I (see instructions).

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 7 Schedule F Reserved

Schedule G Reductions of Taxes Paid, Accrued, or Deemed Paid

J Check this box if, during the tax year, the corporation paid or accrued any foreign tax that was disqualified for credit under section 901(m) . . . . . . . . . .

K Check this box if, during the tax year, the corporation paid or accrued any foreign tax that was disqualified for credit under section 901(j), (k), or (l) . . . . . . . .

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 8 Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) Part I—Research and Experimental Deductions

Important: See Computer-Generated Schedule H in the instructions.

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 9 Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) (continued) Part I—Research and Experimental Deductions (continued)

Note: Include the amount from column (b) of line 6a(7) in column 14 of the Schedule A that corresponds with the code entered on line 6a. If applicable, you should likewise include the amount from column (b) of line 6b(7) in column 14 of the Schedule A that corresponds with the code entered on line 6b. On page 10, you should likewise include the amount(s) from column (b) of lines 6c(7), 6d(7), and 6e(7) in column 14 of the Schedule A that corresponds with the code entered on lines 6c, 6d, and 6e, respectively.

Important: See Computer-Generated Schedule H in the instructions.

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 10 Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) (continued) Part I—Research and Experimental Deductions (continued)

Important: See Computer-Generated Schedule H in the instructions.

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 11 Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) (continued) Part II—Deductions Allocated and Apportioned Based on Assets

Form 1118 (Rev. 12-2025)

Form 1118 (Rev. 12-2025) Page 12 Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) (continued)

Part III—Other Deductions

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Total to be apportioned (see instructions)
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Apportionment among statutory groupings
and residual grouping (see instructions):
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U.S. source
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Part III—Other Deductions

Important: See Computer-Generated Schedule H in the instructions.

Form 1118 (Rev. 12-2025)