bletort
Level 1
12-06-2019
06:23 PM
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itonewbie
Level 15
12-06-2019
06:23 PM
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There is no election statement for F.1116. Election to claim FTC on accrual basis is made on F.1116 itself. And no, cash basis taxpayers can't amend a prior year return to elect for accrual of FTC.
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sjrcpa
Level 15
12-06-2019
06:23 PM
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And the election to claim the FTC without using Form 1116 does not require a statement if that's what you mean.
The more I know the more I don’t know.
