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Level 4
posted Feb 18, 2025 2:32:59 PM

Form 1065 Tax Return for Partnership

I have received a form 1099-DIV that has an entry for foreign tax paid (line7). There is no entry in turbotax business to enter this. Pls advise. Thanks!

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1 Best answer
Expert Alumni
Feb 19, 2025 6:26:51 AM

Yes, you will need to enter this on Schedule K, on line 21. To get to this:

 

  1. Go to the forms mode in your Turbo Tax Business product
  2. Select Schedule K-1 Worksheet
  3. Scroll down toward the bottom of the form, select Quick Zoom to Form 1065 page 4 Schedule K
  4. Scroll down toward the bottom where you see Foreign Taxes paid or Accrued.  Enter that amount here.

2 Replies
Expert Alumni
Feb 19, 2025 6:26:51 AM

Yes, you will need to enter this on Schedule K, on line 21. To get to this:

 

  1. Go to the forms mode in your Turbo Tax Business product
  2. Select Schedule K-1 Worksheet
  3. Scroll down toward the bottom of the form, select Quick Zoom to Form 1065 page 4 Schedule K
  4. Scroll down toward the bottom where you see Foreign Taxes paid or Accrued.  Enter that amount here.

Level 4
Feb 19, 2025 12:30:57 PM

Thanks @DaveF1006