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Get your taxes done using TurboTax
According to IRS, there is a 2nd requirement-that the source of all the foreign taxes you are paying is from dividends only. If you sold an foreign funds or ETFs, technically you must file an 1116. Now it's likely true that IRS won't bother being picky of the amount is small but TT should be able to let you accurate per IRS rules. As of today, the desktop version of TT does not even attempt to find out if my $95 payment of foreign taxes is all from dividends or not. Sloppy but may be fixed 3/3 Face it, most accountants are going to file an 1116. I expected more of TT and am disappointed.
‎February 28, 2022
7:39 PM