Yes, in that case you'll probably need to file Form 1116. To access the form in TurboTax:
- Search for foreign tax credit and select the Jump to link in the search results.
- Answer Yes to Did you pay foreign taxes in 2020 or have credits to use from a prior year?
- Follow the instructions to get the credit or deduction.
In most cases, taking the credit works out better than the deduction. We'll help you decide which one's best for you when you go through this section.
If you choose to take the credit, TurboTax will attach Form 1116, Foreign Tax Credit to your tax return.
