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May 14, 2023
Question

1116 foreign tax credit comp wks error

  • May 14, 2023
  • 1 reply
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I work in Canada and have filed my gross income (which is a salaried job in Canada) as "general category" income in form 1116 along with claiming the taxes I paid in canada as tax credit. However it keeps asking me to put a number above zero in the "foreign tax credit comp wks: Adj Basis of Total Inv Ast"  - but I have no investment. I'm just claiming my foreign earned income. How do I get turbo tax to stop giving me an error?

1 reply

Employee
May 14, 2023

@em56 , I would suggest  clearing your entries, go back and enter , under  deductions and credits,  foreign tax credit  heading, general category income.  Your post suggests that TubroTax things you are entering passive category foreign income --  foreign taxes on wages  should be under general  category.

 

Hope this helps .