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Topic: Form 1116 baskets - when resourcing  (Read 647 times)

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Form 1116 baskets - when resourcing
« on: March 12, 2018, 06:27:27 PM »
Ok, so for filling in the 1116 forms. I assume if the income is to be resourced by treaty, I check that box (d). only, on the top of the 1116 summary form.

As to types of income, earned income would be "general basket" and pension and 403B distributions would be lumped together in the "passive basket". (Or do I need separate forms for the 403b and the pension amounts, meaning three 1116 forms, plus another to serve as the summary sheet?)

Since all my income is from USA sources, I'll be resourcing them. So does the total of everything go on the "Certain Income Resourced By Treaty" line in section 4, rather than "general" or "passive"? (I would assume so?)

Note to self: Be sure to check "Paid" and not accrued on forms.


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Re: Form 1116 baskets - when resourcing
« Reply #1 on: March 12, 2018, 06:47:54 PM »
When I did my taxes last year I had my US pensions marked only as Resourced by Treaty, and for my UK pensions that income was marked as General so I would think UK earned income would also be marked as General. My 2 US pensions were totaled on one form 1116, and I didn’t have any withdrawals from IRA’s or 401k’s so not sure if another 1116 is required but would “guess” that they can be included on the same form as the pensions.
Dual USC/UKC living in the UK since May 2016


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Re: Form 1116 baskets - when resourcing
« Reply #2 on: March 13, 2018, 08:11:41 AM »
Thanks! I'll keep investigating, but that seems reasonable.


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