December 24, 2018
![Foreign Tax Credit by Income Distribution Foreign Tax Credit by Income Distribution](https://www.taxpolicycenter.org/sites/default/files/fiscal-facts/ff_detailed_12.24.2018_4.png)
Fact:
The Foreign Tax Credit is claimed on 5.2% of all individual income tax returns for certain taxes paid to a foreign country or U.S. possession. The share increases with income and 63% of those with AGI over $1,000,000 claim the credit.