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Deductions & credits
If your foreign tax credit is less than $300 if filing single or $600 if filing jointly, you will not have a Form 1116 filing requirement and this might be the reason why it isn't being recorded on Form 1116. You can check to see though if you are receiving a foreign tax credit.
- Log into Turbo Tax
- Once you are in your return, look at the left navigational pane on your return and select Preview My 1040
- Scroll down to Schedule 3, Additional Credits and payments, Part 1 line 1 and see if there is an amount listed for Foreign Tax Credit.
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‎January 29, 2024
7:32 AM