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Question

Where can I find form 1116 to enter the correct explanation statement?

Forum|Forum|1 year ago
March 16, 2025
1 reply
0 views

During my federal review, I have to check an entry for Form 1116 that requires an explanation statement. I can't find a form 1116 and don't see any examples of an explanation statement.

Employee

Form 1116 is found under the federal deductions and credits section. Locate Estimates and Other Taxes Paid. Select Foreign taxes. Let us know if you need help once you get there. You will have a choice between credit and deduction. The vast majority choose credit as few can use the deduction. You can try it both ways. The explanation is probably a drop down box or easy entry. Let us know what you actually need and we are glad to help.

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