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CCH Axcess Tax

Form 1116 - Foreign Tax Credit, Income, Adjustments, Taxes Paid/Accr.

Entries on the Foreign Tax Credit worksheet as well as other Expatriate worksheets with a foreign country code and foreign income code, are used to prepare Form 1116.

Use only one Foreign Tax Credit worksheet per income class.

Complete the Foreign Tax Credit worksheet, General section, Country of Residence field and Foreign Income Code field for each Form 1116 with the appropriate foreign income code. Any number of countries may be included on Foreign Tax Credit worksheet, Foreign Income and Deduction Adjustments and Foreign Taxes Paid or Accrued sections but each country must have a foreign country code entered. Use this same code on all Expatriate worksheets that have entries applicable to that country.

Mandatory Entries

• Foreign Income Code
• Foreign Country Code - Foreign Income and Deduction Adjustments
• Foreign Country Code - Foreign Taxes Paid or Accrued