TurboTax Business Form 1116 - Part II In. U.S. Dollars Taxes Withheld at Source - Not Adding Columns (q) through (t)

[Christopher00]

Form 1116 in TurboTax Business (Downloaded and Updated as of 2/19/21), Part II (Foreign Taxes Paid or Accrued), In US Dollars, Taxes Withheld At Source on table is not adding columns (q) through (t) to go into line 8.  I have $26 in paid taxes on accrued dividends, but this is not showing up in line 8 for form 1116.  It appears there is an error in the table calculations.

Thoughts?

[Anonymous_]

You might have to contact Support for this issue.

What is the TurboTax phone number? (intuit.com)

[Christopher00]

Thanks,

Contacted Support.

Support identified the Federal Form 1116 has not been finalized yet and TurboTax is waiting for this to be finalized.  See https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_windows_individual.htm...

Form 1116 finalization is anticipated for March 3rd.

At this time, any return that requires this form cannot be submitted.

[Anonymous_]

Your original post indicated you were using TurboTax Business. 

Form 1116 is listed as available in that product (but not the personal products).

See https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotaxbusiness_fed_windows_fiduci...

[Christopher00]

Thank you for the correction from the information that TurboTax Support provided.  I will re-contact support to see why this form is not calculating properly.

[Christopher00 · Accepted solution]

After running another Trust through TurboTax Business, column (u) had a non-zero number, but didn't match the sum of columns (q), (r), (s), (t).

After working another form, I realized you could get the data source for the field by right clicking.  For column (u), the data source information is:

"The sum of columns (q), (r), (s), and (t) for lines A, B, and C, multiplied by the estate's or trust's portion. The estate's or trust's portion is 1.00000000 minus the beneficiaries' portion (Form 1041, page 2, Schedule B, line 11 divided by line 7). "

This provided more than the detail of the column header "Total foreign taxes paid or accrued (add columns (q) through (t))."

Also, the Form 1116 about information provided the following guidance:

"Enter 100% of the foreign taxes withheld or paid for foreign country A, B, and C in columns (m) through (t). The program fills in column (u) with the estate's or trust's portion only. Refer to the data source for column (u) for detailed information on how the 'estate's or trust's portion' is determined."

For the example that started this thread, all of the income was distributed to the beneficiaries, so column (u) is $0.  For the other trust I was working, not all of the income distributed to the beneficiaries, so the value was greater than $0, but less than the total amount.

The rest of the foreign tax amounts are seen in the Schedule K-1s on Line 14 as B (Foreign Taxes).

[profman27]

Using TurboTax Business 2021. 

Only have 1 instance of foreign dividends and foreign taxes.  On Form 1116, the program enters the dividends in Part 1, Line 1a, Column B, Skipping Column A. 

In the final review, I receive error messages for not filling in Column A. 

I cannot override Part 1 data from Column B so I an enter it in Column A. 

I suppose it will be ok to file with data in Column B and not Column A.  After printing the return, I could write in Column A, "N/A" so there is no misunderstanding.