Оберіть мову

Форма 1116 Інструкція по графіку B

Інструкції щодо розкладу B (Форм 1116), Графік проведення митного оформлення

2022 р

Пов'язані форми

Подробиці
Формат файлу PDF
Розмір 148.8 KB
Завантажити
Department of the Treasury  
Internal Revenue Service  
Instructions for Schedule B  
(Form 1116)  
(Rev. December 2022)  
Foreign Tax Carryover Reconciliation Schedule  
Section references are to the Internal Revenue Code  
Who Must File  
unless otherwise noted.  
With respect to each separate category of income, if  
you’re filing Form 1116 that has a foreign tax carryover in  
the prior tax year, the current tax year, or both, you must  
file Schedule B for that separate category of income.  
Future Developments  
For the latest information about developments related to  
Schedule B (Form 1116) and its instructions, such as  
legislation enacted after they were published, go to  
Definitions  
Excess limitation. If your foreign tax credit limitation  
(Form 1116, Part III, line 23) exceeds your current year  
foreign taxes available for credit (the sum of Form 1116,  
Part III, lines 9, 12, and 13), you have an excess limitation.  
Excess foreign taxes. If your current year foreign taxes  
available for credit (the sum of Form 1116, Part III, lines 9,  
12, and 13) exceed your foreign tax credit limitation (Form  
1116, Part III, line 23), you have excess foreign taxes.  
What’s New  
Line 1 of Schedule B has been revised to instruct filers to  
enter the amounts from the appropriate columns of line 8  
of the prior year Schedule B.  
The “Caution” at the top of the Line 1 Reconciliation  
Worksheet at the end of these instructions has been  
updated to clarify that the worksheet should now only be  
used in cases where you’re amending your 2021 foreign  
tax credit within the special 10-year limitation period  
described in section 6511(d)(3) (or section 6511(c) if the  
period is extended by agreement).  
Specific Instructions  
Important: All information reported on Schedule B must  
be in English. All amounts must be stated in U.S. dollars.  
Checkboxes at top of page 1. Use a separate  
Schedule B for each applicable category of income and  
check the corresponding box. Check only one box for  
each completed Schedule B.  
See Categories of Income in the Instructions for Form  
1116 for additional information regarding separate  
categories. For country codes on lines (h) and (i), see  
IRS.gov/CountryCodes for the code to use.  
General Instructions  
Purpose of Schedule  
Schedule B (Form 1116) is used to reconcile your prior  
year foreign tax carryover with your current year foreign  
tax carryover. Taxpayers are therefore reporting running  
balances of their foreign tax carryovers showing all activity  
since the filing of their prior year income tax return.  
Note. Don’t complete Schedule B for section 951A  
category income because the carryover provisions of  
section 904(c) don’t apply to foreign taxes assigned to  
section 951A category income.  
Lines 1 through 3. On these lines, you figure your  
adjusted foreign tax carryover from the prior tax year  
which is available for credit in the current tax year. The  
total amount on line 3, column (xiv), is included on Form  
1116, Part III, line 10.  
Line 4. If you have a current year excess limitation  
(defined later), some or all of the line 3 adjusted foreign  
tax carryover amount will be utilized in the current tax  
year. This activity is shown on line 4 of Schedule B.  
Lines 5 through 8. If you have current year excess  
foreign taxes (defined later), none of the line 3 adjusted  
foreign tax carryover amount will be utilized in the current  
tax year. If you have any remaining carryover from the  
10th preceding tax year, this carryover amount will expire  
unused. This activity is shown on line 5 of Schedule B.  
Furthermore, you will generate a foreign tax carryover in  
the current tax year which can be carried back to the prior  
tax year and/or carried forward to future tax years (see the  
line 10 instructions in the Instructions for Form 1116 for  
details). This activity is shown on lines 6 through 8 of  
Schedule B.  
Line 1. Foreign tax carryover from the prior tax year.  
Enter on line 1 the amounts from the appropriate columns  
of line 8 of the prior year Schedule B. For example, enter  
on line 1, column (i) of the current year Schedule B the  
amount from line 8, column (ii) of the prior year  
Schedule B. Enter on line 1, column (ii) of the current year  
Schedule B the amount from line 8, column (iii) of the prior  
year Schedule B. Enter on line 1, column (iii) of the current  
year Schedule B the amount from line 8, column (iv) of the  
prior year Schedule B.  
Line 2. Adjustments to line 1. Report on lines 2a, 2b,  
2c, 2d, etc., any adjustments resulting from events that  
occurred between the filing of your prior year tax return  
and the filing of your current year tax return.  
Line 2a. Carryback adjustment. Enter on line 2a,  
column (xii), the difference between any estimated  
carryback amount you may have used on your prior year  
carryover schedule (that is, any estimated carryback  
Dec 29, 2022  
Cat. No. 37626c  
   
amount that you entered on line 7, column (xiii), of the  
prior year Schedule B) and the actual carryback amount.  
Example. For 2022, Sam has excess foreign taxes of  
$100 entered on Schedule B, line 6, column (xiii). Sam  
enters $20 on line 7 as the estimated amount of line 6 to  
be carried back to 2021. He enters $80 on line 8 as the  
carryover amount for following years. The actual  
carryback amount to 2021 is later determined to be $15.  
In 2023, Sam enters $80 on line 1, column (xii), as the  
carryover from 2022, corresponding to the amount  
entered on line 8, column (xiii), of Schedule B filed for the  
2022 tax year. Because the estimated carryback amount  
of $20 from 2022 to 2021 (entered on line 7 of Schedule B  
filed for 2022) exceeds the actual carryback of $15, Sam  
will enter the $5 excess ($20 − $15) on line 2a of his 2023  
Schedule B as a positive number. Assuming no other  
adjustments are needed, the total carryover amount from  
2022 entered on line 3, column (xii), of Sam’s 2023  
Schedule B will be $85 ($80 + $5).  
subtotal on line 4, column (vii); the $250 subtotal on line 4,  
column (viii); and the $250 total on line 4, column (xiv).  
The line 4, column (xiv), total can’t exceed the  
amount of the current year excess limitation.  
!
CAUTION  
Line 5. Foreign tax carryover expired unused in cur-  
rent tax year. Line 5 is completed only with respect to  
the 10th preceding tax year (and the “Subtotal” and  
“Totals” columns). For the 10th preceding tax year  
(column (i)), combine lines 3 and 4 and enter the result on  
line 5, column (i).  
Line 6. Foreign tax carryover generated in current  
tax year. With respect to a given separate limitation,  
line 6 is completed only if you have current year excess  
foreign taxes (defined under Definitions, earlier). Enter in  
column (xiii) (the current tax year column) the amount of  
your unused foreign tax for the current tax year (that is,  
the amount by which the sum of Form 1116, Part III, lines  
9, 12, and 13, exceeds the amount on Form 1116, Part III,  
line 23). Also enter the same amount in the “Totals”  
column (column (xiv)).  
Line 7. Actual or estimated amount of line 6 to be  
carried back to the prior tax year. Enter the amount of  
line 6 carried back to the first preceding tax year. If, at the  
time you file your current year income tax return, the  
actual amount isn’t available, an estimated or tentative  
amount may be entered on line 7. If an estimated amount  
is entered on line 7 and this amount differs from the actual  
carryback amount, the difference will be entered on  
line 2a of your subsequent year Schedule B.  
Line 2b. Adjustments for section 905(c)  
redeterminations. Enter on line 2b any adjustments  
needed for section 905(c) redeterminations. See Foreign  
Tax Redeterminations in the Instructions for Form 1116  
for additional information.  
Lines 2c, 2d, 2e, etc. Include on these additional lines  
the following types of adjustments needed to reflect:  
Domestic audit adjustments, and  
Any other adjustments needed to properly reflect the  
total carryover amount from the prior tax year that is  
available for credit in the current tax year.  
Note. Be sure to enter a brief description of each  
applicable adjustment item immediately after the lower  
case letter in the first column of the schedule.  
Note. In order to carry back amounts to the first  
preceding tax year, that first preceding tax year must be  
an excess limitation year (as defined earlier under  
Definitions).  
Line 3. Adjusted foreign tax carryover from prior tax  
year. Combine lines 1 and 2. The total amount on line 3,  
column (xiv), is the adjusted carryover amount from the  
prior tax year. It is included on Form 1116, Part III, line 10  
(and, if filing an amended return, combined with  
carrybacks into the current tax year) to determine the total  
amount of foreign taxes that are available for credit in the  
current tax year.  
Line 4. Foreign tax carryover used in current tax  
year. With respect to a given separate limitation, line 4 is  
completed only if you have a current year excess  
limitation (defined earlier).  
Enter in each column the foreign tax carryover utilized  
in the current tax year. Starting with column (i), the amount  
to be entered on line 4 of a given column will be the  
amount on line 3 of that column, but only to the extent that  
it doesn’t exceed:  
Note. When this line 7 carryback amount is subtracted  
from line 6, the difference is the amount of the foreign tax  
carryover generated in the current tax year which will be  
carried forward to your subsequent tax year.  
Line 1 Reconciliation Worksheet  
If you're amending your 2021 foreign tax credit within the  
special 10-year limitation period described in section  
6511(d)(3) (or section 6511(c) if the period is extended by  
agreement), use the worksheet at the end of the  
instructions to figure the amounts to be entered on line 1  
of your Schedule B for 2021.  
Lines 2 through 5. Use the instructions for lines 4  
through 7 of Schedule B earlier to complete lines 2  
through 5, respectively, of the Line 1 Reconciliation  
Worksheet.  
The amount of the current year excess limitation  
(defined earlier), less  
The sum of all amounts entered in all previous columns  
Additional Information  
of line 4.  
Example. For the current tax year, Bob has an excess  
For more information, see section 904(c) and Regulations  
section 1.904-2.  
limitation of $250. The amount on line 3, column (i), is  
$80. The amount on line 3, column (ii), is $60. The amount  
on line 3, column (iii), is $130. The amount on line 3 of all  
subsequent columns is irrelevant for purposes of this  
example. Bob enters $80 on line 4, column (i); $60 on  
line 4, column (ii); $110 on line 4, column (iii); the $250  
Paperwork Reduction Act Notice.  
We ask for the information on Schedule B to carry out the  
Internal Revenue laws of the United States. You're  
required to give us the information. We need it to ensure  
-2-  
Instructions for Schedule B (Form 1116) (Rev. 12-2022)  
that you're complying with these laws and to allow us to  
figure and collect the right amount of tax.  
estimated burden for individual taxpayers filing this form is  
approved under OMB control number 1545-0074 and is  
included in the estimates shown in the instructions for  
their individual income tax return. The estimated burden  
for all other taxpayers who file this form is  
You're not required to provide the information  
requested on a form that is subject to the Paperwork  
Reduction Act unless the form displays a valid OMB  
control number. Books or records relating to a form or its  
instructions must be retained as long as their contents  
may become material in the administration of any Internal  
Revenue law. Generally, tax returns and return  
Recordkeeping, 13 min.; Learning about the law or  
the form, 21 min.; Preparing the form, 56 min.  
If you have comments concerning the accuracy of  
these time estimates or suggestions for making this form  
simpler, we would be happy to hear from you. You can  
write to the IRS at the address listed in the instructions of  
the tax return with which this form is filed.  
information are confidential, as required by section 6103.  
The time needed to complete and file Schedule B will  
vary depending on individual circumstances. The  
Instructions for Schedule B (Form 1116) (Rev. 12-2022)  
-3-  
-4-  
Instructions for Schedule B (Form 1116) (Rev. 12-2022)