Estate k1 Box 14; Where do I find the foreign tax information: Deducttons Allocated and Apportioned at Beneficiary Level that TurboTax asks for?

[Anonymous]

Estate k1 Box 14; Where do I find the foreign tax information: Deducttons Allocated and Apportioned at Beneficiary Level that TurboTax asks for?  i.e. Interest Expense: Total,  Interest Expense: U.S Source, etc.

[IreneS · Accepted solution]

UPDATED FOR TAX YEAR 2019

These items should either be shown in box 14 with code I (Other Information) or on a separate statement.  If you don't have this information, just leave the boxes blank.

After entering your K-1 information, since the Estate paid foreign taxes, be sure to go through the foreign tax credit section of TurboTax:

1. Click on Federal Taxes > Deductions & Credits.
2. In the Estimates and Other Taxes Paid section, click on the Start/Revisit box next to Foreign Taxes.  
3. On the Foreign Tax Credit screen, click Yes.
4. When you come to the screen, Do You Want the Deduction or the Credit?  you can select either, but it is usually more beneficial to take the credit. 
   
5. Continue through the screens, entering the requested information.  You do not have to re-enter the amount of foreign tax from your K-1.
6. On the Foreign Taxes Paid screen, enter:  your country of residence; Date Taxes Paid:  12/31/2019; Foreign Taxes Were:  Paid  

[Edited | 4/1/2020 |  11:55am PDT]