The screen shot I posted is from the TurboTax program.
You mention that you have foreign taxes paid from mutual funds, which I assume was reported to you on a form 1099-INT or 1099-DIV. That is where you entered the taxes paid, but you also have to enter the foreign income on which the taxes were paid, and you enter that in Foreign Taxes section in TurboTax. That is where you will see the question regarding what your foreign income was. I think you may have entered your foreign tax as the amount of your foreign income.
Follow these steps to review your foreign income entry:
- Choose the Federal option on your left menu bar
- Choose Deductions and Credits
- Choose Estimates and Other Taxes Paid
- Choose Foreign Taxes
Work your way through that section and you should see an entry for foreign income.
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