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Level 1
December 7, 2019
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Can you amend form 1040 to include form 1116 election statement

  • December 7, 2019
  • 2 replies
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Best answer by itonewbie

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.

2 replies

itonewbie
itonewbieAnswer
Level 15
December 7, 2019

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
December 7, 2019

And the election to claim the FTC without using Form 1116 does not require a statement if that's what you mean.

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