Form 1116 Foreign Tax Credit 2011

• Name field contains Robert Smith
• Identifying number as shown on page 1 of your tax return field contains 000-00-0000
• f. Resident of (name of country) field contains Country X
• Under Part I: Taxable Income or Loss From Sources Outside the United States (for Category Checked Above): Deductions and losses:
• • 1a. Gross income from sources within country shown above and the type checked above (see page 13 of the instructions: field contains 38,600
  • 2. Expenses definitely related to the income field contains 304
  • 3a. Certain itemized deductions or standard deduction field contains 1,500
  • 3c. Add lines 3a and 3b field contains 1,500
  • 3d. Gross foreign source income (see instructions) field contains 130,100
  • 3e. Gross income from all sources (see instructions) field contains 140,500
  • 3f. Divide line 3d by line 3e (see instructions) field contains .9260
  • 3g. Multiply line 3c by line 3f field contains 1,389
  • 4a. Home mortgage interest expense (use worksheet on page 14 of the instructions) field contains 4,648
  • 6. Add lines 2, 3g, 4a, and 5 field contains 6,341
  • 7. Substract line 6 from line 1a. Enter the result here and on line 14, page 2 field contains 32,259
• 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
  • (n) Foreign taxes paid or accrued in foreign currency: Other foreign taxes paid or accrued field contains 64,800
  • (r) Foreign taxes paid or accrued in U.S. dollars: Other foreign taxes paid or accrued field contains 32,400
  • (s) Total foreign taxes paid or accrued (add columns (o) through (r)) field contains 32,400
  • 8. Add lines A through C, column (s). Enter the total here and on line 9, page 2 field contains 327,400

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