Foreign Tax Credit form 1116 glitch?

[hntrust]

I am doing a 1041 trust return.  The 1099-DIV from Schwab shows foreign taxes paid from some of the mutual funds. I entered the appropriate information in TurboTax indicating the source of dividends as RIC. During the review, TurboTax takes me to form 1116 part 1, line i - Enter the name of foreign country or U.S. possession.  So under column A, I entered RIC.  Gross income on line 1a was automatically transferred into the form as $2,544 under column A.  After I completed the review, I saved and then previewed the return.  Form 1116 is now showing RIC for line i in column A and B.  It is also showing $2,544 for line 1a in column A and B. Then it adds column A and B and gives the wrong total ($5,088) rather than the correct total of $2,544. Is there a glitch in the software that is causing this? I tried to manually change form 1116 so that column B will show 0, but the fields under column B can't be changed manually. Thanks for any assistance.

[Anonymous_]

I have a copy of TurboTax Business and cannot reproduce the results you are seeing in your return.

You might want to try deleting the 1099-DIV and re-entering it to see if the error can be reproduced.

[hntrust]

I did as you suggested and re-entered the dividends attributed to foreign taxes and am still getting the same error. Is there anyway to override the entries that are placed on form 1116?

[Anonymous_]

You can do an override (click in the box and select Override from the dropdown), but you will not be able to e-file.

[hntrust]

Okay, I was able to override but now form 1116 doesn't appear in the print list. I had to file another 1041 for a different trust and had no issues with form 1116. Very confused as to why TurboTax is being quirky.

[Anonymous_]

---

@hntrust wrote:

Okay, I was able to override but now form 1116 doesn't appear in the print list. 

---

That is strange. Does the form appear in Forms Mode under Forms in My Return?

How many Forms 1099-DIV did you enter? Did you enter foreign dividends from any other source, such as a 1099-INT?

[hntrust]

Yes, form 1116 does appear in Forms in My Return. There was only one 1099-DIV that had foreign income. On form 1116, line seven the calculation shows -11. So, the taxable income is a negative number. Could that be the reason that the form does not appear to print or save as a PDF?

[Anonymous_]

Yes, that could be the reason but I have no idea how you would get a negative number without an override.

Can you post a screenshot?

[hntrust]

[hntrust]

Hi tagteam, can you see the screenshots I posted?

[Anonymous_]

I can see the screenshots, but I am not sure what happened, exactly. 

Did you override that one line (you must have since the numbers are in red)?

[hntrust]

I only did override on Part 1, line 1 and 1a. Line 1 had RIC in columns A and B. Line 1a had  2,544 in columns A and B. Like I said there is only one 1099-DIV showing dividends from foreign mutual funds of $2,544. I don't understand why TurboTax won't create a PDF for form 1116, but at this point I will just submit the return without it since it doesn't change the fact that zero taxes are owed.