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Level 2
June 5, 2019
Solved

With a small $11 foreign tax credit, for "Various" foreign holdings in mutual funds. The 1040 needs Frm 1116, but it doesn't show up on the download. What am I missing?

  • June 5, 2019
  • 1 reply
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Best answer by rogge1722

I am assuming that you have a 1099-DIV with the $11 in box 7. TT normally will assume you qualify for the credit exemption.  Bring up the 1040 Wks. and look at line 48. You should see the tax posted. If you do, nothing more need be done with regard to foreign taxes.

1 reply

rogge1722Answer
Level 10
June 5, 2019

I am assuming that you have a 1099-DIV with the $11 in box 7. TT normally will assume you qualify for the credit exemption.  Bring up the 1040 Wks. and look at line 48. You should see the tax posted. If you do, nothing more need be done with regard to foreign taxes.