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| Name | IRS Form 1099-INT with Foreign Interest Income and Taxes Withheld - Form 1116 Foreign Tax Credit |
| Video Uploader | Video From Jason D. Knott |
| Upload Date | This Video Uploaded At 20-02-2024 14:17:52 |
| Video Discription | Form 1099-INT may include bother U.S. and foreign source interest income and related taxes. In this example, a taxpayer receives a Form 1099-INT that reports U.S. and foreign source interest income, as well as foreign income taxes withheld at source. The taxpayer reports the total interest income on Schedule B of Form 1040, but they are also eligible to claim the foreign taxes withheld as a foreign tax credit on Form 1116. More Videos on Form 1116 Foreign Tax Credits Foreign Credit for Compensation: https://youtu.be/KKnlbJ_dUBE Foreign Credit on Dividends: https://youtu.be/sh_WQizuP6c FTC on Form 1116: https://youtu.be/hq6civEk3io Schedule B Carryover: https://youtu.be/RuOQz7KLKII Adjustments for Qualified Dividends: https://youtu.be/Li9gLv_NmMI For a larger database of tutorials, please visit our website and search for your question: https://knottlearning.com/ DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials. #Form1116 #ForeignTaxCredit #InterestIncome |
| Category | Education |
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