More Information

For more information about, or assistance with, figuring the foreign tax credit, the following IRS resources are available.

• All of your foreign source gross income was “passive category income” (which includes most interest and dividends). See c. Passive Category Income, later. However, for this purpose, passive income also includes (a) income subject to the special rule for high-taxed income, described later; and (b) certain export financing interest.

• All the income and any foreign taxes paid on it were reported to you on a qualified payee statement. Qualified payee statements include Form 1099-DIV, Form 1099-INT, Schedule K-1 (Form 1041), Schedule K-3 (Form 1065), Schedule K-3 (Form 1120-S), or similar substitute statements.

• Your total creditable foreign taxes aren’t more than $300 ($600 if married filing a joint return).

This election isn’t available to estates or trusts.

If you make this election, the following rules apply.

• You can’t carry over to or from any other year any foreign taxes paid or accrued in a tax year to which the election

Publications. See Pub. 514, Foreign Tax Credit for Individuals. The following publications may also be helpful.

• Pub. 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad.

• Pub. 519, U.S. Tax Guide for Aliens.

• Pub. 570, Tax Guide for Individuals With Income From U.S. Territories.

If you are overseas, call 267-941-1000 (not toll free). Write to: Internal Revenue Service, International Accounts, Philadelphia, PA 19255-0725