Table of Contents

• Publication 514 - Introductory Material
  • What's New for 2005
  • Reminders
  • Introduction
    • Tax questions.
    • Ordering forms and publications.
  • Useful Items - You may want to see:
• Publication 514 - Main Contents
  • Choosing To Take Credit or Deduction
    • Choice Applies to All Qualified Foreign Taxes
    • Making or Changing Your Choice
  • Why Choose the Credit?
    • Credit for Taxes Paid or Accrued
    • Foreign Currency and Exchange Rates
    • Foreign Tax Redetermination
  • Who Can Take the Credit?
    • U.S. Citizens
    • Resident Aliens
    • Nonresident Aliens
  • What Foreign Taxes Qualify for the Credit?
    • Tax Must Be Imposed on You
    • You Must Have Paid or Accrued the Tax
    • Tax Must Be the Legal and Actual Foreign Tax Liability
    • Tax Must Be an Income Tax (or Tax in Lieu of Income Tax)
  • Foreign Taxes for Which You Cannot Take a Credit
    • Taxes on Excluded Income
    • Taxes for Which You Can Only Take an Itemized Deduction
    • Taxes on Foreign Oil Related Income
    • Taxes on Foreign Mineral Income
    • Taxes From International Boycott Operations
    • Taxes on Foreign Oil and Gas Extraction Income
    • Taxes of U.S. Persons Controlling Foreign Corporations and Partnerships
  • How To Figure the Credit
    • Limit on the Credit
    • Separate Limit Income
    • Allocation of Foreign Taxes
    • Foreign Taxes From a Partnership or an S Corporation
    • Figuring the Limit
    • Qualified Dividends
    • Capital Gains and Losses
    • Allocation of Foreign and U.S. Losses
    • Tax Treaties
  • Carryback and Carryover
    • Time Limit on Tax Assessment
    • Claim for Refund
    • Taxes All Credited or All Deducted
    • Married Couples
  • How To Claim the Credit
    • Form 1116
    • Records To Keep
    • Alternative Minimum Tax
  • Simple Example — Filled-In Form 1116
    • Part I—Taxable Income or Loss From Sources Outside the United States (for Category Checked Above)
    • Part II—Foreign Taxes Paid or Accrued
    • Part III—Figuring the Credit
    • Part IV—Summary of Credits From Separate Parts III
  • Comprehensive Example — Filled-In Form 1116
    • Foreign earned income.
    • Employee business expenses.
    • Forms 1116
    • Computation of Taxable Income
    • Part I—Taxable Income or Loss From Sources Outside the United States (for Category Checked Above)
    • Part II—Foreign Taxes Paid or Accrued
    • Part III—Figuring the Credit
    • Part IV—Summary of Credits From Separate Parts III
    • Unused Foreign Taxes
  • How To Get Tax Help
• Publication 514 - Additional Material
• Index