Question
Foreign tax credit for foreign rental income tax paid
We have rental income from Germany, and are paying taxes in Germany for that income.
We would like to take a credit for those taxes.
How do we do that in Turbotax? We have entered the rental income, and tried to add a 1116 to report foreign taxes paid.
Once we enter the paid taxes, though, the amount we have to pay in taxes in the US goes up instead of down.
It looks like the 1116 is not linked to the foreign income reported on Schedule E.
Entering this kind of tax situation seems to be a challenge for Turbotax.
Can you help us?
