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Screen IN1116 - Indiana Credit for Taxes Paid to Foreign Country (1040)

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Foreign Income/Loss

Use this section to enter income taxable to both Indiana and a foreign country to calculate the income subject to Indiana tax. Amounts in this section copy from the federal
1116
 screen if the taxpayer was an Indiana full-year resident.
Income subject to Indiana tax
This is the sum of the amounts in
Foreign gross income
,
Foreign short-term capital gain/loss
, and
Foreign long-term capital gain/loss
 less the amounts in
Definitely related expenses
 and
Foreign source losses
. If you change any of those amounts, review and update this field as needed.

Taxes Paid or Accrued

Use this section to enter tax paid on foreign income that's also taxable to Indiana to calculate the total tax paid. Amounts in this section copy from the federal
1116
 screen if the taxpayer was an Indiana full-year resident.
Total tax paid
This is the sum of the amounts in the other fields in this section. The calculated amount is based on the amounts that originally transferred to the aforementioned fields. If you change any of the previous amounts, review and update this field as needed.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Indiana

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