topic Amending return (completed by CPA but w/ errors) that has a foreign tax credit - issue is amount on line of 18 of form 1118 isn't equal to line 15 of the 1040 - why not? in Deductions & credits

Amending return (completed by CPA but w/ errors) that has a foreign tax credit - issue is amount on line of 18 of form 1118 isn't equal to line 15 of the 1040 - why not?

Taxhound — Tue, 24 Feb 2026 07:11:21 GMT

Over 1/3 of total income is from dividends and all foreign income is "passive" - Form 1118 is required because foreign tax is more than $300 for a single person

Re: Amending return (completed by CPA but w/ errors) that has a foreign tax credit - issue is amount on line of 18 of form 1118 isn't equal to line 15 of the 1040 - why not?

dmertz — Mon, 07 Aug 2023 15:48:12 GMT

I think you mean Form 1116. I suggest reviewing the instructions for Form 1116 line 18 and the Worksheet for Line 18 to see if that sheds any light on your question: https://www.irs.gov/pub/irs-pdf/i1116.pdf

Re: Amending return (completed by CPA but w/ errors) that has a foreign tax credit - issue is amount on line of 18 of form 1118 isn't equal to line 15 of the 1040 - why not?

Taxhound — Mon, 07 Aug 2023 16:51:37 GMT

You are correct, my typo - Form 1116 was the basis of my question. Thx for your guidance but not understanding the calculation on the worksheet....I will spend some additional time and maybe I can figure it out - I was thinking one of the many experts would be able to provide an explanation about what I am seeing due to having seen it on other returns.

Re: Amending return (completed by CPA but w/ errors) that has a foreign tax credit - issue is amount on line of 18 of form 1118 isn't equal to line 15 of the 1040 - why not?

fanfare — Fri, 11 Aug 2023 08:03:38 GMT

The instructions p.23 describe those conditions under which line 18 will not use Form 1040 Line 15.

@Taxhound