Question

Form 1116 Line 8

Forum|Forum|2 years ago
September 28, 2023
2 replies
0 views

TurbotTax insists on entering a date and wont accept "1099 taxes" for line 8 despite IRS instructions

If foreign tax paid on passive income is reported to
you in U.S. dollars on a Form 1099-DIV, 1099-INT, or
similar statement, you don't have to convert the
amount shown into foreign currency. This rule applies
whether or not you can make the election to claim the foreign
tax credit without filing Form 1116 (as explained earlier)

Enter “1099 taxes” in Part II, column (l), and complete
columns (q) through (u) for each foreign country indicated in
Part I.

A

Anonymous_

Employee

You're probably going to have to contact Support for this issue.

How do I contact TurboTax? (intuit.com)

P

pk12_2

Employee

@roiperdu , what TurboTax is trying to do is confirm that the "accrued" or "Paid " date is within the tax year -- note that some end of the tax year for some filers is different than 12/31/XX, Also some foreign countries have tax year that is different than calendar year -- e.g. UK Mar 31st to April 1st. Thsi si not used for anything other than informational. Suggest you enter the last day of yoru tax year ( for most people in the USA it is 12/31/XX )

Does this make sense ?

pk