Excess withholding of social security tax and tier 1 railroad retirement tax. Social security and railroad retirement tax (RRTA) were both withheld at a rate of 6.2% on the first $68,400 of wages in 1998. If you had two or more employers and they withheld too much social security or RRTA tax during 1998, you may be entitled to a credit of the excess withholding. For more information about the credit and how to get it, see Credit for Excess Social Security Tax or Railroad Retirement Tax Withheld.

Election not to file Form 1116. If your only foreign income is passive income and the total of all your foreign taxes shown on Form 1099--DIV, 1099--INT, and similar statements is not more than $300 ($600 if married filing jointly), you can make an election not to be subject to the foreign tax credit limit. For more information, see Foreign Tax Credit.

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