What IRS form is typically used to claim the Foreign Tax Credit?

The Foreign Tax Credit is often claimed using Form 1116. This form is specifically designed for taxpayers to report and claim foreign taxes paid or accrued during the year. By using Form 1116, taxpayers can offset their U.S. tax liability with the amount of foreign taxes they have already paid, thereby reducing the risk of double taxation on the same income.

Different forms listed serve different purposes: Form 1040 is the standard individual income tax return, but it does not provide specific details about foreign tax credits. Form 8889 is related to Health Savings Accounts (HSAs) and has no relevance to foreign taxes. Form 2555 is used to claim the Foreign Earned Income Exclusion, which is a separate benefit from the Foreign Tax Credit. Therefore, Form 1116 is the appropriate choice for accurately claiming the Foreign Tax Credit, making it the correct answer.