This course explains the U.S. tax rules for individuals to compute the foreign tax credit, including the foreign tax credit limitation. It also reviews the techniques used to lessen the impact of, or completely avoid, the double taxation of income when more than one country has the jurisdictional right to impose tax. This lesson is designed for individuals, S corporations, and partnerships, all of whom will cause the filing of a Form 1116 to claim a foreign tax credit. Upon completion of this course, the student will be able to: Determine creditable foreign income taxes; Compute the foreign tax credit limitation; Compute the foreign tax credit; Determine whether it is more tax advantageous to claim a credit or deduction for foreign taxes paid; Discuss strategies to maximize foreign tax credits on returns; List the general and passive limitations on income.