- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Those of you who had foreign source income from 2 or 3 countries are not experiencing the problem faced by folks who have foreign source income from multiple accounts and more than 3 countries. The Form 1116 only handles 3 countries and the Turbo Tax program seems to assume that all of your foreign source income comes through a single 1099 Div. If you have 4, 5 or 6 1099 Divs and they have foreign source income from multiple countries, you run into software issues. The solution is to consolidate all of the foreign source income with tax withholdings into a spread sheet and the enter the data as if it all came from a single country. It works.
‎April 8, 2021
4:34 PM