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- How do you get the foreign tax credit to show up on the Indiana return as an offset credit?
How do you get the foreign tax credit to show up on the Indiana return as an offset credit?
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rskinner-aelwm-
Level 2
02-17-2022
08:47 AM
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Indiana does allow taxpayers to claim a foreign tax credit. A taxpayer must file Schedule CR with their Indiana return and attach Internal Revenue Service (IRS) Form 1116 to the return to claim the Indiana foreign tax credit. The credit is limited to the lesser of the foreign taxes paid to the foreign country, the Indiana state income tax on the foreign source income, or the taxpayer’s total tax due to Indiana.
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