When reviewing Form 1116, what should I look for?

Here are some tips on what to look for when reviewing Form 1116:

  • Make sure your name and Social Security Number are correct;
  • If you are only filing Form 1116, make sure your income in Part I and your foreign tax paid in Part II are correct;
  • If you are filing both Form 1116 and 2555, your income on Form 1116 may be reduced by Form 2555, so the figures may differ from your stated income. If this is the case, please check that your personal details are correct.