About Form 1118, Foreign Tax Credit - Corporations


Corporations use this form to compute their foreign tax credit for certain taxes paid or accrued to foreign countries or U.S. possessions.

Current Revision

Recent Developments

None at this time.


Use Schedule I (Form 1118), (a separate schedule) to compute reductions of taxes paid, accrued, or deemed paid on foreign oil and gas income.

Schedule I (Form 1118)PDF

Use Schedule J (Form 1118), (a separate schedule) to compute adjustments to separate limitation income or losses in determining the numerators of limitation fractions, year-end recharacterization balances, and overall foreign and domestic loss account balances

Schedule J (Form 1118)PDF

Instructions for Schedule J (Form 1118)

Corporations claiming foreign tax credit use this schedule to compute adjustments to separate limitation income (losses) and year-end account balances.

Schedule K (Form 1118)PDF 

Instructions for Schedule K (Form 1118)

Use Schedule L (Form 1118), (a separate schedule) to report foreign tax redeterminations that occurred in the current taxable year and that relate to prior taxable years. 

Schedule L (Form 1118)PDF 

Instructions for Schedule L (Form 1118)

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