- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Here's what you do
First things, first
Enter the dividend income under Wages and Income like this,
then hit enter, enter till you get to the screen Report Foreign dividends, put 10,000 like this
and then the next screen will ask you where the dividends are from, enter Other Countries like this
then type in "foreign tax credit" in the magnifying glass in the upper right hand size
When you get to this screen, enter one country
then next income from foreign sources
click on Report Income, then this screen check off the box
then when you get to this screen, apportion the amount allocated to the specific country. In this case, I selected Afghanistan as an example I used 33% from the total 10,000 of dividend income originally reported on the 1099DIV
Then hit enter, enter till you get to the screen Reporting Taxes Paid, do you want to review your entries, hit no
first year eligible, hit yes
then elect simplified calculation, hit yes
And then on the screen No other Income or Expenses, hit no
And then completing forms 1116, hit Continue, continue, continue till you get to this screen
I hope this works out for you. Let us know either way. Thank you.
**Mark the post that answers your question by clicking on "Mark as Best Answer"