Thanks for taking the time to read this.
I'm using TurboTax Home & Business 2024 (Desktop, Mac). I'm trying to claim the foreign tax credit for taxes paid on long-term capital gains and interest income from a foreign brokerage.
Here’s what I’ve done so far:
The income was correctly reported in the appropriate sections of TurboTax, with the specific foreign brokerage name noted.
However, when I go to claim the foreign tax credit, it only seems to pick up foreign taxes paid on dividends—not on capital gains or interest.
The foreign brokerage name is also missing from the selection I need to make.
Since there was no 1099 issued, TurboTax labels this income as such, and I don’t see a way to indicate it's foreign income.
I tried entering it directly on Form 1116 via the worksheet, but that didn’t seem to work either.
Is there a straightforward way in TurboTax to tell it:
“This is foreign income, this is the tax paid—please apply the credit”?
Any guidance would be greatly appreciated!
Thanks,
Ben
