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Form 1118: Foreign Tax Credit—Corporations

Use Tax Form 1118: Foreign Tax Credit—Corporations as a stand alone tax form calculator to quickly calculate specific amounts for your 2018 tax return. Form 1118: Foreign Tax Credit—Corporations is also integrated into our comprehensive US Tax Calculator where you can complete and save your calculations for later use. Alternatively you can use one of our Combined Federal and State Tax Estimator to quickly calculate your salary, tax and take home pay.

Foreign Tax Credit—Corporations
Schedule A Income or (Loss) Before Adjustments (Report all amounts in U.S. dollars. See Specific Instructions.)
1. Foreign Country or U.S. Possession (Enter two-letter code; see instructions. Use a separate line for each.) *Gross Income or (Loss) From Sources Outside the United States (INCLUDE Foreign Branch Gross Income here and on Schedule F)
2. Deemed Dividends (see instructions)3. Other Dividends4. Interest5. Gross Rents, Royalties, and License Fees6. Gross Income From Performance of Services7. Other (attach schedule)8. Total (add columns 2(a) through 7)
(a) Exclude gross-up(b) Gross-up (sec. 78)(a) Exclude gross-up(b) Gross-up (sec. 78)
A
B
C
D
E
F
* For section 863(b) income, NOLs, income from RICs, and high-taxed income, use a single line (see instructions).
Deductions (INCLUDE Foreign Branch Deductions here and on Schedule F)
13. Total Income or (Loss) Before Adjustments (subtract column 12 from column 8)
9. Definitely Allocable Deductions10. Apportioned Share of Deductions Not Definitely Allocable (enter amount from applicable line of Schedule H, Part II, column (d))11. Net Operating Loss Deduction12. Total Deductions (add columns 9(e) through 11)
Rental, Royalty, and Licensing Expenses(c) Expenses Related to Gross Income From Performance of Services(d) Other Definitely Allocable Deductions(e) Total Definitely Allocable Deductions (add columns 9(a) through 9(d))
(a) Depreciation, Depletion, and Amortization(b) Other Expenses
A
B
C
D
E
F
T
O
T
A
L
S
Schedule B Foreign Tax Credit (Report all foreign tax amounts in U.S. dollars.)
Part I—Foreign Taxes Paid, Accrued, and Deemed Paid (see instructions) /td>
1. Credit is Claimed for Taxes (check one):
2. Foreign Taxes Paid or Accrued (attach schedule showing amounts in foreign currency and conversion rate(s) used)3. Tax Deemed Paid (from Schedule C— Part I, column 12, Part II, column 8(b), and Part III, column 8
(h) Total Foreign Taxes Paid or Accrued (add columns 2(a) through 2(g)
Date PaidDate Accrued(a) Dividends(b) Interest(c) Rents, Royalties, and License Fees(d) Section 863(b) Income(e) Foreign Branch Income(f) Services Income(g) Other
A
B
C
D
E
F
Part II—Separate Foreign Tax Credit (Complete a separate Part II for each applicable category of income.)
1a
b
2
3
4
5
6
7
8a
b
c
9
10
11
12
Part III—Summary of Separate Credits (Enter amounts from Part II, line 12 for each applicable category of income. Do not include taxes paid to sanctioned countries.)
1
2
3
4
5
6
Schedule C Tax Deemed Paid by Domestic Corporation Filing Return
Use this schedule to figure the tax deemed paid by the corporation with respect to dividends from a first-tier foreign corporation under section 902(a), and deemed inclusions of earnings from a first- or lower-tier foreign corporation under section 960(a). Report all amounts in U.S. dollars unless otherwise specified.
Part I—Dividends and Deemed Inclusions From Post-1986 Undistributed Earnings
1a. Name of Foreign Corporation (identify DISCs and former DISCs)1b. EIN (if any) of the foreign corporation1c. Reference ID number (see instructions)2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. Post-1986 Undistributed Earnings (in functional currency —attach schedule)5. Opening Balance in Post-1986 Foreign Income Taxes6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated
(a) Taxes Paid(b) Taxes Deemed Paid (see instructions)
7. Post-1986 Foreign Income Taxes (add columns 5, 6(a), and 6(b))8. Dividends and Deemed Inclusions9. Divide column 8(a) by column 410. Multiply column 7 by column 911. Section 960(c) Limitation12. Tax Deemed Paid (subtract column 11 from column 10)
(a) Functional Currency(b) U.S. Dollars
Part II—Dividends Paid Out of Pre-1987 Accumulated Profits
1a. Name of Foreign Corporation (identify DISCs and former DISCs)1b. EIN (if any) of the foreign corporation1c. Reference ID number (see instructions2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. Accumulated Profits for Tax Year Indicated (in functional currency computed under section 902) (attach schedule)5. Foreign Taxes Paid and Deemed Paid on Earnings and Profits (E&P) for Tax Year Indicated (in functional currency) (see instructions)6. Dividends Paid7. Divide column 6(a) by column 48. Tax Deemed Paid (see instructions)
(a) Functional Currency(b) U.S. Dollars(a) Functional Currency(b) U.S. Dollars
Part III—Deemed Inclusions From Pre-1987 Earnings and Profits
1a. Name of Foreign Corporation (identify DISCs and former DISCs)1b. EIN (if any) of the foreign corporation1c. Reference ID number (see instructions2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. E&P for Tax Year Indicated (in functional currency translated from U.S. dollars, computed under section 964) (attach schedule)5. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated (see instructions)6. Deemed Inclusions7. Divide column 6(a) by column 48. Tax Deemed Paid (multiply column 5 by column 7)
(a) Functional Currency(b) U.S. Dollars
Schedule D Tax Deemed Paid by First- and Second-Tier Foreign Corporations under Section 902(b)
Use Part I to compute the tax deemed paid by a first-tier foreign corporation with respect to dividends from a second-tier foreign corporation. Use Part II to compute the tax deemed paid by a second-tier foreign corporation with respect to dividends from a third-tier foreign corporation. Report all amounts in U.S. dollars unless otherwise specified.
Part I—Tax Deemed Paid by First-Tier Foreign Corporations
Section A—Dividends Paid Out of Post-1986 Undistributed Earnings (Include the column 10 results in Schedule C, Part I, column 6(b).)
1a. Name of Second-Tier Foreign Corporation and Its Related First-Tier Foreign Corporation1b. EIN (if any) of the second-tier foreign corporation1c. Reference ID number (see instructions)2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. Post-1986 Undistributed Earnings (in functional currency—attach schedule)5. Opening Balance in Post-1986 Foreign Income Taxes
6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated7. Post-1986 Foreign Income Taxes (add columns 5, 6(a), and 6(b))8. Dividends Paid (in functional currency)9. Divide column 8(a) by column 410. Tax Deemed Paid (multiply column 7 by column 9)
(a) Taxes Paid(b) Taxes Deemed Paid (see instruc-
tions)
(a) of Second-tier Corporation(b) of First-tier Corporation
Section B—Dividends Paid Out of Pre-1987 Accumulated Profits (Include the column 8(b) results in Schedule C, Part I, column 6(b).)
1a. Name of Second-Tier Foreign Corporation and Its Related First-Tier Foreign Corporation 1b. EIN (if any) of the second-tier foreign corporation1c. Reference ID number (see instruc-
tions)
2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. Accumula-
ted Profits for Tax Year Indicated (in functional currency —attach schedule)
5. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated (in functional currency—see instructions)6. Dividends Paid (in functional currency)7. Divide Column 6(a) by Column 48. Tax Deemed Paid (see instructions)
(a) of Second-tier Corpora-
tion
(b) of First-tier Corpora-
tion
(a) Functional Currency of Second-
tier Corpora-
tion
(b) U.S. Dollars
Part II—Tax Deemed Paid by Second-Tier Foreign Corporations
Section A—Dividends Paid Out of Post-1986 Undistributed Earnings (In general, include the column 10 results in Section A, column 6(b), of Part I. However, see instructions for Schedule C, Part I, column 6(b) for an exception.)
1a. Name of Third-Tier Foreign Corporation and Its Related Second-Tier Foreign Corporation1b. EIN (if any) of the thirdtier foreign corporation1c. Reference ID number (see instructions)2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. Post-1986 Undistributed Earnings (in functional currency—attach schedule)5. Opening Balance in Post-1986 Foreign Income Taxes
6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated7. Post-1986 Foreign Income Taxes (add columns 5, 6(a), and 6(b))8. Dividends Paid (in functional currency)9. Divide column 8(a) by column 410. Tax Deemed Paid (multiply column 7 by column 9)
(a) Taxes Paid(b) Taxes Deemed Paid (from Schedule E, Part I, column 10)(a) of Third-tier Corporation(b) of Second-tier Corporation
Section B—Dividends Paid Out of Pre-1987 Accumulated Profits (In general, include the column 8(b) results in Section A, column 6(b), of Part I. However, see instructions for Schedule C, Part I, column 6(b) for an exception.)
1a. Name of Third-Tier Foreign Corporation and Its Related Second-Tier Foreign Corporation1b. EIN (if any) of the third-tier foreign corporation1c. Reference ID number (see instructions)2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. Accumulated Profits for Tax Year Indicated (in functional currency —attach schedule)5. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated (in functional currency—see instructions)6. Dividends Paid (in functional currency)7. Divide column 6(a) by column 48. Tax Deemed Paid (see instructions)
(a) of Third-tier Corpora-
tion
(b) of Second-tier Corpora-
tion
(a) In Functional Currency of Third-tier Corpora-
tion
(b) U.S. Dollars
Schedule E Tax Deemed Paid by Certain Third-, Fourth-, and Fifth-Tier Foreign Corporations Under Section 902(b)
Use this schedule to report taxes deemed paid with respect to dividends from eligible post-1986 undistributed earnings of fourth-, fifth- and sixth-tier controlled foreign corporations. Report all amounts in U.S. dollars unless otherwise specified.
Part I—Tax Deemed Paid by Third-Tier Foreign Corporations (In general, include the column 10 results in Schedule D, Part II, Section A, column 6(b). However, see instructions for Schedule C, Part I, column 6(b) for an exception.)
1a. Name of Fourth-Tier Foreign Corporation and Its Related Third-Tier Foreign Corporation1b. EIN (if any) of the fourth-tier foreign corporation1c. Reference ID number (see instructions)2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code- see instructions)4. Post-1986 Undistributed Earnings (in functional currency—attach schedule)5. Opening Balance in Post-1986 Foreign Income Taxes
6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated7. Post-1986 Foreign Income Taxes (add columns 5, 6(a), and 6(b))8. Dividends Paid (in functional currency)9. Divide column 8(a) by column 410. Tax Deemed Paid (multiply column 7 by column 9)
(a) Taxes Paid(b) Taxes Deemed Paid (from Part II, column 10)(a) of Fourth-tier CFC(b) of Third-tier CFC
Part II—Tax Deemed Paid by Fourth-Tier Foreign Corporations (In general, include the column 10 results in column 6(b) of Part I. However, see instructions for Schedule C, Part I, column 6(b) for an exception.)
1a. Name of Fifth-Tier Foreign Corporation and Its Related Fourth-Tier Foreign Corporation1b. EIN (if any) of the fifth-tier foreign corporation1c. Reference ID number (see instructions)2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. Post-1986 Undistributed Earnings (in functional currency—attach schedule)5. Opening Balance in Post-1986 Foreign Income Taxes
6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated7. Post-1986 Foreign Income Taxes (add columns 5, 6(a), and 6(b))8. Dividends Paid (in functional currency)9. Divide column 8(a) by column 410. Tax Deemed Paid (multiply column 7 by column 9)
(a) Taxes Paid(b) Taxes Deemed Paid (from Part III, column 10)(a) of Fifth-tier CFC(b) of Fourth-tier CFC
Part III—Tax Deemed Paid by Fifth-Tier Foreign Corporations (In general, include the column 10 results in column 6(b) of Part II above. However, see instructions for Schedule C, Part I, column 6(b) for an exception.)
1a. Name of Sixth-Tier Foreign Corporation and Its Related Fifth-Tier Foreign Corporation1b. EIN (if any) of the sixth-tier foreign corporation1c. Reference ID number (see instructions)2. Tax Year End (Yr-Mo) (see instructions)3. Country of Incorporation (enter country code - see instructions)4. Post-1986 Undistributed Earnings (in functional currency—attach schedule)5. Opening Balance in Post-1986 Foreign Income Taxes
6. Foreign Taxes Paid for Tax Year Indicated7. Post-1986 Foreign Income Taxes (add columns 5 and 6)8. Dividends Paid (in functional currency)9. Divide column 8(a) by column 410. Tax Deemed Paid (multiply column 7 by column 9)
(a) of Sixth-tier CFC(b) of Fifth-tier CFC
Schedule F Gross Income and Definitely Allocable Deductions for Foreign BranchesSchedule G Reductions of Taxes Paid, Accrued, or Deemed Paid
Part I - Reduction Amounts
1. Foreign Country or U.S. Possession (Enter two-letter code from Schedule A, column 1. Use a separate line for each.)2. Gross Income3. Definitely Allocable DeductionsA
AB
BC
CD
DE
EF
F
Part II - Other Information
Schedule H Apportionment of Deductions Not Definitely Allocable (complete only once)
Part I—Research and Development Deductions
(a) Sales Method(b) Gross Income Method — Check method used:
Product line #1 (SIC Code: )*Product line #1 (SIC Code: )*Product line #1 (SIC Code: )*Product line #1 (SIC Code: )*
(i) Gross Sales(ii) R&D Deductions(iii) Gross Sales(iv) R&D Deductions(v) Gross Income(vi) R&D Deductions(vii) Gross Income(viii) R&D Deductions
1
2
3
a
b
c
d
4
Part II—Interest Deductions, All Other Deductions, and Total Deductions
(a) Average Value of Assets—Check method used:

(b) Interest Deductions(c) All Other Deductions Not Definitely Allocable(d) Totals (add the corresponding amounts from column (c), Part I; columns (b)(iii) and (b)(iv), Part II; and column (c), Part II). Enter each amount from lines 3a through 3d below in column 10 of the corresponding Schedule A.
(i) Nonfinancial Corpora-
tions
(ii) Financial Corpora-
tions
(iii) Nonfinancial Corpora-
tions
(iv) Financial Corpora-
tions
1a
b
c
d
2
3Apportionment among statutory groupings:
a
b
c
d
4

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