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Corporations use this form to compute their foreign tax credit for certain taxes paid or accrued to foreign countries or U.S. possessions.
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Form 1118 in a corporate return is calculated based on the entries made on the Foreign Tax Credit screens (available on the first Credits tab in the Data ...
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Attach to the corporation's tax return. Go to www.irs.gov/Form1118 for instructions and the latest information. OMB No. 1545-0123.
Jun 8, 2023 · Use Form 1118 to compute a corporation's foreign tax credit for certain taxes paid or accrued to foreign countries or US possessions.
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