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Get your taxes done using TurboTax
I had a similar problem. Turbotax '21 downloaded my Consolidated 1099s from Fidelity automatically. When I got to the Foreign Tax credit on Form 1116, it put the WRONG NUMBER in Line 1a. The number entered just happened to be the sum of 1099-DIV Line 3 Non Dividend Distributions (was from a foreign source) and Line 7 Foreign Tax Paid. Line 7 should NOT be used here. The Fidelity statement summarizes has a Foreign Income and Taxes Summary at the end with the correct number. This year, Turbotax just blew it.
Why pay all this money to make things easier, when it actually makes in more difficult??
March 17, 2022
12:32 PM