Deductions & credits

I ended up filling out all the forms and Turbo Tax is now happy. I finally decided to select the simplified method but was bouncing between the step-by-step and forms input process trying to determine what was going on, so I don't know if I had stuck to the step-by-step whether it would have automatically generated all the additional forms. Step-by-step required selecting a country to which the taxes applied from a drop-down list. There was no "various" selection, but there apparently is a "RIC" selection, which stands for a Regulated investment Company (basically a financial company or brokerage doing your investments). I did not notice that and probably would not have understood what "RIC" meant at that time. After I had finished everything I finally found a Turbo Tax tutorial which explains the process. Take a look at this before you start the foreign tax process.

 

https://thefinancebuff.com/foreign-tax-credit-form-1116-turbotax.html

 

JohnD

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