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When the information is entered into the return the Foreign Taxes will be on your return as a tax credit. If the total foreign taxes on your return is greater $300 ($600 Married Filing Jointly) you will need to add the Form 1116 to your return to enter your foreign tax credit and indicate what country to who the taxes were paid. If there are various countries enter RIC as the country.
To enter the Foreign Tax Credit Form 1116, you would:
- Enter foreign tax credit in the Search Magnifying Glass in the upper right hand corner of your screen.
- Select Jump to foreign tax credit.
- Into the screens select you want to take the tax credit.
- Answer the questions on the screens.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.