Hello, and thank you for considering my question.
I have a bank account in Sweden. In 2019 I entered my Swedish bank interest income in the Interest on 1099-INT section. It totaled less than $300. I then entered taxes withheld on that interest and had no trouble getting the foreign tax credit for it.
For 2020, my Swedish bank interest exceeded $300. That, I believe, activates form 1116. So I'm being prompted to enter my foreign tax paid information into its form 1116 worksheet. So far, so good. But then the program is denying me any of the foreign tax credit. Is that because I put the Swedish bank interest in the Interest on 1099-INT section? Do I need to put the interest income in the 1116 worksheet instead in order to get the foreign tax credit, or perhaps do something else?
Thanks again most sincerely for reading!
