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Cannot clear form 1116 foreign tax credit error message
Using Premier for 2018 taxes. Form 1099-DIV, downloaded, had $2.38 in foreign tax paid. An error message comes up in review suggesting I need to do something to trigger form 1116. I've tried for a few hours but nothing works. I even went back to the step by step to guide through, but nothing works and the error keeps coming up. I've been ready to file but hate to do so with an error that can't be fixed. Here's what comes up:
"Check This Entry. Schedule B form 1099-DIV Foreign Tax Sch A box or Form 1116 copy should be entered. Return to the place where this was entered to correct the entry."
I downloaded the form. Not sure what else to try to correct???
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Deductions & credits
This is a software error and here is the workaround. If you are using the desktop version, use “A”; if using the on-line version, use “B”
(A)
Bring up Form 1040 Wks. and make sure the credit is posted on line 48. If it is then bring up the
1099-DIV Worksheet. In Box 7, double click on the f1116 icon.
Another box will appear. You will see the phrase “Form 1116 (COPY 1)”. Click on that and it will be highlighted. Then click on the “LINK” button.
That box will disappear and you will see the phrase “COPY 1” inside the f1116 icon.
Then recheck Form 1040 Wks. and make sure the credit is still posted on line 48. If so, the error is cleared, no f1116 will be generated and you are done.
(B)
It is assumed you are using the exemption and the credit is posted on line 48 of the 1040 Wks. Go to the Foreign Tax Credit interview. We will be going into the interview just far enough so TT will Link to COPY 1 of a f1116 although no f1116 will actually be generated. Here are the headers and the responses.
1. Foreign Tax Credit
Continue
2. Tell Us About Your Foreign Taxes
Check the “None of these apply.”
Make sure the other 2 are blank.
Continue
3. Foreign Taxes
Continue
4. Do You Want the Deduction or the Credit?
Take a Credit.
5. Reporting Foreign Taxes Paid
Continue
6. Where Did You Receive Dividend Income From?
If already selected, Continue, otherwise select any one. It doesn’t matter as it is not needed.
7. Income From Foreign Countries
“Report Income.”
8. Report Foreign Tax Paid to XXXX.
Check under “Select”.
Continue.
9. Foreign Source Income
If there is an entry, ignore it otherwise type in any arbitrary amount. It is only a filler and not needed.
Continue.
10. Reporting Foreign Taxes Paid.
At this point, TT should have inserted the Link and cleared the error without generating a f1116. We want to vacate the interview now, so I suggest selecting “Smart Check” to see if the error is cleared. If so, verify the credit is still on line 48 of the 1040 Wks. and you are done.
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Using Option A - TT Premier....no "Line 48" on either of the 1040 Wks forms (standard of the 2 Persoanl form for my wife & I
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Method B does not work. You said
2. Tell Us About Your Foreign Taxes
Check the “None of these apply.” <<==== there is no such checkbox