To report your foreign tax paid on your foreign income
for foreign tax credit:
- Click on Deductions &
Credits
- Scroll down to Estimates and
Other Taxes Paid
- Scroll down to Foreign Taxes
- Click 'Yes" you paid
foreign taxes
- Click through the screens
regarding foreign interest and dividends
- Click yes that you have
reported all your foreign income already in TurboTax
- Click that you want to take a
credit
- Answer question about the
Simplified Limitation Election
- Choose income type for foreign income for wages or pension - it will be General category income, for rents or investments - it will be Passive category income
- Add your country name as the country
- Enter description -such as Belgium wages for exam
- Enter Income amount that you
previously reported in TurboTax
- Enter your taxes you paid on
your foreign retirement in the box "Other income"- Please see screen shot below
- Continue through ALL the foreign tax credit screens
until done.
