Foreign Tax paid in 1099D

Forum|Forum|1 year ago
February 27, 2025
1 reply
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I chose tax credit instead of deduction for foreign tax paid from my mutual funds. When I review my tax tax returns prepared by Turbotax, it shows deduction instead of tax credit. How can I make the change in Turbotax?

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Best answer by DaveF1006

Yes, follow these steps to get back to the section where this choice is made.

Go to Federal
Deductions and credits
Estimate and other taxes paid
Foreign Tax Credit>start or revisit
When it asks We just need to check if you have any uncommon situations indicate I paid foreign taxes on income I earned while working in another country.
At some point in the interview, it will ask if you wish to take a deduction or a credit. Here you may make the choice to take the credit.

DaveF1006Answer

Yes, follow these steps to get back to the section where this choice is made.

Go to Federal
Deductions and credits
Estimate and other taxes paid
Foreign Tax Credit>start or revisit
When it asks We just need to check if you have any uncommon situations indicate I paid foreign taxes on income I earned while working in another country.
At some point in the interview, it will ask if you wish to take a deduction or a credit. Here you may make the choice to take the credit.

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