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Topic: Form 1116??? And a conversion question...  (Read 1375 times)

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Form 1116??? And a conversion question...
« on: January 28, 2005, 03:57:25 PM »
I've been trawling through the tax threads seeing what I need to file this year.  I know I need 1040, 2555 (one for DH and myself if we file jointly), and W-7 (if we apply for DH's ITIN).  But I'm seeing something about form 1116.  What is that?!

Also, do we know what the conversion rate is for 2004?  I saw one (1.6939) in an earlier thread, but it looks like that's the rate for 2003/2004.  Any ideas?
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Re: Form 1116??? And a conversion question...
« Reply #1 on: January 28, 2005, 05:27:34 PM »
Form 1116 is the Foreign Tax Credit form. You use it to take a credit against your tax liability if you or your spouse paid taxes to a foreign country on income reported on  your U.S. return.
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Re: Form 1116??? And a conversion question...
« Reply #2 on: January 28, 2005, 08:37:17 PM »
the official rate for 2004 is $1.83
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Love your life, poor as it is. You may perhaps have some pleasant, thrilling, glorious hours, even in a poorhouse. The setting sun is reflected from the windows of the almshouse as brightly as from the rich man’s abode; the snow melts before its doors as early in the spring. Cultivate property like a garden herb, like sage. Do not trouble yourself much to get new things, whether clothes or friends. Turn the old; return to them. Things do not change; we change. Sell your clothes and keep your thoughts…

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