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What can be considered expenses definitely related to income on Form 1116 Foreign Income Credit?

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Question
What can be considered expenses definitely related to income on Form 1116 Foreign Income Credit?

Answer

These are deductions that definitely relate to the gross income from foreign sources reported amount. For example, if you are an employee reporting foreign earned income, these are expenses such as those incurred to move to a new principal place of work outside the United States or supplies you bought for your job outside the United States. Do not include any interest expense as expensed definitely related to income.

For more information, please refer to Instructions for Form 1116.


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Views: 1749 Created on: Jun 15, 2013
Date updated: Dec 07, 2018

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