Foreign income and Foreign Tax - entering correctly

Forum|Forum|6 years ago
April 22, 2020
1 reply
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First of all this Foreign Income / Tax part of Turbotax is terrible.

I have entered my 1099 DIV and split the 1099 DIV into multiple 1099 Div for different countries.

1. I see "enter foreign income" and I also see "enter foreign income that tax was paid on". I have one foreign income amount that no tax was paid on - do I have to enter that income separately as "foreign"? I don't get the option when foreign tax is 0.

2. How oh How do I get my information from the 1099 DIV forms to enter on the 1116 forms? I have entered everything and still the 1116 are not being created.

Thank you for any help. I did this on our taxes last year but I just cant seem to get it all to work this year.

R

rogge1722

Employee

If you are creating a 1099-div for a country with no foreign tax paid, it is necessary to insert $1.00 into box 7 so that TT will see it during the interview. Later after you are done, you can replace it with a zero in the f1116 comp wks.

The procedure this year is the same as last year on my desktop version.

You mentioned " I see "enter foreign income" and I also see "enter foreign income that tax was paid on"

Were these screen headers within the FTC interview? If so, and if you are using the on-line version, TT made some changes and that may cause issues.