1116 Schedule B Foreign Tax Carryover Reconciliation Schedule

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SCHEDULE B
(Form 1116)
(December 2021)
Department of the Treasury
Internal Revenue Service

Name

DRAFT AS OF
October 13, 2021
DO NOT FILE
Foreign Tax Carryover Reconciliation Schedule

For calendar year 20

, or other tax year beginning
, 20
, and ending
▶ See separate instructions.
▶ Attach to Form 1116.
▶ Go to www.irs.gov/Form1116 for instructions and the latest information.

, 20

.

OMB No. 1545-0121

Identifying number as shown
on page 1 of your tax return

Use a separate Schedule B (Form 1116) for each applicable category of income listed below. See instructions. Check only one box on each schedule.
Check the box for the same separate category code as that shown on the Form 1116 to which this Schedule B is attached.
Reserved for future use
Passive category income
Section 901(j) income
Lump-sum distributions
a
c
e
g
b
d
f
Foreign branch category income
General category income
Certain income re-sourced by treaty
h If box e is checked, enter the country code for the sanctioned country. See instructions . . . . . . . . . . . . . . . . . . ▶
i If box f is checked, enter the country code for the treaty country. See instructions . . . . . . . . . . . . . . . . . . . . ▶
Foreign Tax Carryover
Reconciliation
1

Foreign tax carryover from the prior
tax year (enter amounts from the
appropriate columns of line 6 of the
worksheet in the instructions)

2

Adjustments to line 1 (enter
description—see instructions):
a

Carryback adjustment (see instructions)

b

Adjustments for section 905(c)
redeterminations (see instructions)

(i)
10th Preceding
Tax Year

(ii)
9th Preceding
Tax Year

(iii)
8th Preceding
Tax Year

(iv)
7th Preceding
Tax Year

(v)
6th Preceding
Tax Year

(vi)
5th Preceding
Tax Year

(vii)
Subtotal
(add columns (i)
through (vi))

c
d
e
f
g
3

Adjusted foreign tax carryover from
prior tax year (combine lines 1 and 2)

4

Foreign tax carryover used in current
tax year (enter as a negative number)

5

Foreign tax carryover expired unused
in current tax year (enter as a negative
number)

6

Foreign tax carryover generated in
current tax year

7

Actual or estimated amount of line 6
to be carried back to prior tax year
(enter as a negative number)

8

Foreign tax carryover to the following
tax year. Combine lines 3 through 7.

-0For Paperwork Reduction Act Notice, see the Instructions for Form 1116.

Cat. No. 75186F

Schedule B (Form 1116) (12-2021)

Schedule B (Form 1116) (12-2021)

DRAFT AS OF
October 13, 2021
DO NOT FILE

Foreign Tax Carryover
Reconciliation (continued)
1

Foreign tax carryover from the prior
tax year (enter amounts from the
appropriate columns of line 6 of the
worksheet in the instructions)

2

Adjustments to line 1 (enter
description—see instructions):

a

Carryback adjustment (see instructions)

b

Adjustments for section 905(c)
redeterminations (see instructions)

c
d
e
f
g
3

Adjusted foreign tax carryover from
prior tax year (combine lines 1 and 2).
Include the column (xiv) total on the
current year Form 1116, Part III, line 10.

4

Foreign tax carryover used in current
tax year (enter as a negative number)

5

Foreign tax carryover expired unused
in current tax year (enter as a negative
number)

6

Foreign tax carryover generated in
current tax year

7

Actual or estimated amount of line 6
to be carried back to prior tax year
(enter as a negative number)

8

Foreign tax carryover to the following
tax year. Combine lines 3 through 7.

(viii)
Subtotal from page 1
(enter the amounts from
column (vii) on page 1)

(ix)
4th Preceding
Tax Year

(x)
3rd Preceding
Tax Year

(xi)
2nd Preceding
Tax Year

(xii)
1st Preceding
Tax Year

Page

(xiii)
Current
Tax Year

2

(xiv)
Totals
(add columns (viii)
through (xiii))

Schedule B (Form 1116) (12-2021)