You may have to reduce the foreign taxes you paid or accrued by the following items.
- Taxes on income excluded on Form 2555 or Form 2555-EZ.
- Taxes on income from Puerto Rico exempt from U.S. tax.
- Taxes on income from American Samoa excluded from U.S. tax.
- Taxes on foreign-oil-related income.
- Taxes on foreign oil and gas extraction income.
- Taxes on foreign mineral income.
- Reduction for failure to file Form 5471 for U.S. shareholders who control a foreign corporation.
- Reduction for failure to file Form 8865. for U.S. partners who control a foreign partnership.
- Reduction of taxes or credit due to international boycott operations.