UPDATED FOR TAX YEAR 2019
These items should either be shown in box 14 with code I (Other Information) or on a separate statement. If you don't have this information, just leave the boxes blank.
After entering your K-1 information, since the Estate paid foreign taxes, be sure to go through the foreign tax credit section of TurboTax:
- Click on Federal Taxes > Deductions & Credits.
- In the Estimates and Other Taxes Paid section, click on the Start/Revisit box next to Foreign Taxes.
- On the Foreign Tax Credit screen, click Yes.
- When you come to the screen, Do You Want the Deduction or the Credit? you can select either, but it is usually more beneficial to take the credit.
- Continue through the screens, entering the requested information. You do not have to re-enter the amount of foreign tax from your K-1.
- On the Foreign Taxes Paid screen, enter: your country of residence; Date Taxes Paid: 12/31/2019; Foreign Taxes Were: Paid
[Edited | 4/1/2020 | 11:55am PDT]