KarenJ2
Expert Alumni

Deductions & credits

I know the Form 1116 instructions say to enter the foreign tax both in the foreign currency and in USD.  However, most all  of the  Forms 1116 that are submitted  to the IRS only include the USD amount.   In all my years of filing this form, I have never seen a notice about the amounts only denoted in USD.  As pk said, you can just report everything in USD, then you can e-file.

 

If you wish to enter the foreign currency amounts, you can do this with the CD/Desktop version in the forms view.  You will find the CD/Desktop version is much easier.  You can view your forms while you prepare your tax return.

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