- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
One reason for not wanting the credit is Form 1116 is very complicated and it may not be worth the trouble. Such as, if you don't list the countries in decending order of tax amount paid you will get an error message, which Turbotax explains on one of their dropdowns, and not be able to e-file. When you have more than one account making up the credit you need to combine data and this becomes time consuming. Also there are questions that are not clear how you should answer. I did try to go through and answer the many questions and still had errors, which I figured out how to correct. Sometimes taking a credit is not worth all the effort. Thanks.
March 14, 2024
1:36 PM