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Retirement tax questions
If your Form 1040 tax is calculated using the Qualified Dividends and Capital Gains Tax Worksheet, then the amount on Form 1116 line 18 is not necessarily the amount from Form 1040 line 15.
The IRS Instructions for Form 1116 includes a worksheet that is used to calculate Form 1116 line 18 when the Qualified Dividends and Capital Gains Tax Worksheet is used.
Look at your Form 1040 Worksheet for the calculation of the income tax on line 16 to see if the Qualified Dividends and Capital Gains Tax Worksheet was used for your return. If so, there should also be a worksheet included as part of your return to calculate the amount shown on Form 1116 line 18.
For reference, here is a link to the IRS Instructions for Form 1116.
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March 2, 2025
6:38 AM