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Deductions & credits
"To choose the foreign tax credit, you generally must complete Form 1116 (PDF) and attach it to your Form 1040, Form 1040-SR or Form 1040-NR. You must choose either the foreign tax credit or itemized deduction for all foreign taxes paid or accrued during the year." Ref: IRS Topic No. 856. TurboTax supports Form 1116. To report your foreign tax paid follow these steps
- With TurboTax open enter Foreign Tax paid in the search box
- Select Jump to foreign tax paid in the results window
- Follow the prompts to enter your foreign tax paid information.
This IRS publication Topic No. 856 Foreign Tax Credit has information you may find useful.
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March 7, 2020
12:51 PM