Foreign sourced lump-sum distributions from a pension plan may qualify you to take a foreign tax credit if you paid or accrued taxes. If you received the lump-sum distribution for a different year, you may need to use a special formula to figure the tax.
See Pub. 575 for more information.
Where do I report my lump-sum distributions?
To enter into the program, please follow the steps listed below.
- Deductions - Select my forms
- Foreign Tax Credit Form 1116
- Lump-sum Distributions
Refer to Form 1116 Instructions for complete instructions.