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Foreign Tax Credit

4491-25 Foreign Tax Credit v1.0 VO.ppt. Foreign Tax Credit. Form 1040 Line 47 Pub 4012 Tab 5. LEVEL 2 TOPIC. Foreign Tax Credit. Reported to TP on 1099 INT or 1099 DIV Only in scope total if <$300 ($600 MFJ) Link from 1040, Line 47 and enter at the top of Form 1116

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Foreign Tax Credit

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  1. 4491-25 Foreign Tax Credit v1.0 VO.ppt Foreign Tax Credit Form 1040 Line 47 Pub 4012 Tab 5 LEVEL 2 TOPIC NJ Training TY2010 v1.0

  2. Foreign Tax Credit • Reported to TP on 1099 INT or 1099 DIV • Only in scope total if <$300 ($600 MFJ) • Link from 1040, Line 47 and enter at the top of Form 1116 • Do NOT put directly on 1040 – can cause problems • The rest of Form 1116 is Out Of Scope NJ Training TY2010 v1.0

  3. 2008 2005 NJ Training TY2010 v1.0

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