Taxes paid to a foreign country that you do not legally owe, including amounts eligible for refund by the foreign country.
You cannot take a credit for any interest or penalties you must pay.
Taxes on excluded income.
Taxes for which you can only take an itemized deduction.
Taxes on foreign oil related income.
Taxes on foreign mineral income.
Taxes from international boycott operations.
Taxes of U.S. persons controlling foreign corporations or partnerships.
Taxes on foreign oil and gas extraction income.
Taxes imposed by and paid to certain sanctioned foreign countries. These countries are those designated by the Secretary of State as countries that repeatedly provide support for acts of international terrorism, countries with which the United States does not have diplomatic relations, or countries whose governments are not recognized by the United States.
Foreign taxes withheld on a dividend from a corporation, if you have not held the stock for at least 16 days within the 31-day period that begins 15 days before the ex-dividend date.
Foreign taxes withheld on a dividend to the extent that you have to make related payments on positions in similar or related property.
Foreign taxes withheld on income or gain (other than dividends) from property if you have not held the property for at least 16 days within the 31-day period that begins 15 days before the date on which the right to receive the payment arises. This rule applies to income or gain paid or accrued after November 21, 2004.
Foreign taxes withheld on income or gain (other than dividends) from property to the extent you have to make related payments on positions in similar or related property.
Payments of foreign tax that are returned to you in the form of a subsidy.
Taxes paid or accrued to a foreign country in connection with the purchase or sale of oil or gas extracted in that country if you do not have an economic interest in the oil or gas, and the purchase price or sales price is different from the fair market value of the oil or gas at the time of the purchase or sale.
Foreign taxes paid or accrued on income for which you are claiming an exclusion on Form 8873, Extraterritorial Income Exclusion.
More information on the Foreign Tax Credit:
General Rule for Foreign Taxes
Foreign Tax Deduction
Foreign Tax Credit
Claiming the Credit or Deduction Each Year
Foreign Taxes Not Eligible for the Foreign Tax Credit
Prohibited Countries
