Get your taxes done using TurboTax

I have a workable solution for TT 2022 and the Form 1116 to get Foreign Tax Credit if you have sources of more than one country for Foreign Tax Credit within one account  (e.g. Fidelity or Schwab). 

 

Since TT limits entry to one country per Investment Firm account, for country selection merely enter "Various"; and enter all of the foreign income (dividends) and all of the foreign tax credits into the same entry (the Various) ignoring anything you know about specific country of origin. 

 

If one day you're audited by the IRS, merely state the fact that Turbotax fails in this area, and this was the only means to enter all the combined data.  In the end, the current tax code only cares about the combined data totals.  The country of origin is not a tax effect issue.  It is merely an IRS information gatheirng issue attempted to be captured within the Form 1116.