What is Form 1116 and Who Needs to File One?
Form 1116
Form 1116 is, ‘Foreign Tax Credit’.
Form 1116 should be filed to claim a foreign tax credit if you are a US resident individual, estate, or trust, and you paid or accrued certain foreign taxes to a foreign country or US possession.
Not all foreign taxes are creditable. Foreign taxes that are not creditable may still be deductible.