Question

Foreign Tax Credit 2020 - More Than 1 Country - From 1099-DIV & Schedule K-1

Forum|Forum|5 years ago
March 13, 2021
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How do I use the Turbotax interview to enter foreign taxes paid & foreign income on 2 different Schedule K-1's & 2 different 1099-DIV's? I am using Trubotax Premier 2021 - WIndows CD Rom version, for filing my Form 1040.

L

linaj20201

You will first enter all your tax forms, like the K-1 and 1099-DIVs in the program. Then go through the foreign tax credit section by following these steps:

In TurboTax online,

Open up your TurboTax account and select Pick up where you left off
At the right upper corner, in the search box, type in "foreign tax credit" and Enter
Select Jump to foreign tax credit
Follow prompts
On screen, "Tell Us About Your Foreign Taxes", check the first box ( You have no more foreign taxes to enter other than the 1099-DIV, 1099-INT, 1099-OID or a Schedule K-1)
Follow prompts