Form 1116 Foreign Tax Credit 2010

Summary: This is an example of Form 1116 (2010) with items included as described in the text. Additionally, these line items are completed:

Under Taxable Income or Loss From Sources Outside the United States)
1a. Gross income from sources within country shown above field contains 620
Under Deductions and losses (Caution: See pages 13 and 14 of the instructions):
3f. Divide line 3d by line 3e (see instructions) field contains .0136
3g. Multiply line 3c by line 3f field contains 78
6. Multiply line 3c by line 3f field contains 78
7 Subtract line 6 from line 1a. field contains 542
Under Part II: Foreign Taxes Paid or Accrued:
- Country A: Credit is claimed for taxes (you must check one): (h) Paid checkbox checked
- (j) Date paid or accrued field contains 12-31-2010
- (o) Taxes withheld at source on: Dividends field contains 93
- (s) Total foreign taxes paid or accrued (add columns (o) through (r)) field contains 93
- 8. Add lines A through C, column (s). Enter the total here and on line 9, page 2 field contains 93