When To Make the Election

The election to claim the foreign tax credit for any tax year may be made or changed at any time before the end of a special 10-year period described in section 6511(d)(3) (or section 6511(c) if the period is extended by agreement). The election to claim a deduction in lieu of a credit for foreign income taxes may be made or changed at any

Instructions for Form 1118 (Rev. 12-2025) Catalog Number 10905I Dec 19, 2025 Department of the Treasury Internal Revenue Service www.irs.gov

time before the end of the period prescribed by section 6511(a) or 6511(c). See Regulations section 1.901-1(d).