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dpeter1220
February 10, 2025
Question

If one pays a Foreign Tax, should the credit be that same amount?

  • February 10, 2025
  • 1 reply
  • 0 views
Turbo Tax is currently giving me a $444 credit when I only paid $222 in Foreign Taxes. Is that correct?

    1 reply

    DaveF1006
    DaveF1006
    February 11, 2025

    This sounds like a duplicate entry. Check your 1099 DIV and 1099 INT to see if there are foreign taxes reported in Boxes 6 in the 1099 INT or Box 7 in the 1099 DIV.  If these entries are recorded in one or both forms, go to the section where you claimed the foreign credits and remove the entry you may have recorded in this section.

     

    1. Go to Federal
    2. Deductions and credits 
    3. Estimate and other taxes paid 
    4. Foreign Tax Credit>start or update
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