Credit for Foreign Taxes - TurboTax Premium

Forum|Forum|1 year ago
February 19, 2025
1 reply
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I am using desktop Premium version - I have interest income from a bank account in India where tax is deducted at source. Entered the income as if a 1099 was issued by the bank in India - as well as the total taxes that were deducted and paid to the Income Tax Authority in India. Evidently Turbo Tax is not capturing the Foreign Tax paid as I see no change in taxes due if I remove the foreign taxes paid or when I enter them in the 1099.

Any help on how to get the credit for Foreign Taxes paid, would be appreciated.

Thank you

Manoj Jain

Best answer by MinhT1

You do not enter the foreign tax paid on the 1099-INT entry form.

You have to enter it in the foreign tax credit section of TurboTax.

Open your return
Click on Search on the upper right of your screen
In the search box, type in foreign tax credit and click on the magnifying glass icon on the left of the Search box
The first search result is Jump to foreign tax credit
Click on that link and TurboTax will take you to the section where you enter your foreign tax credit.

MinhT1Answer

You do not enter the foreign tax paid on the 1099-INT entry form.

You have to enter it in the foreign tax credit section of TurboTax.

Open your return
Click on Search on the upper right of your screen
In the search box, type in foreign tax credit and click on the magnifying glass icon on the left of the Search box
The first search result is Jump to foreign tax credit
Click on that link and TurboTax will take you to the section where you enter your foreign tax credit.

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