Foreign Tax Credits:
I agree there is a problem with TT 2018 when trying to report foreign tax credits. The superuser response was not helpful, since the program did not behave as stated. Here are my observations:
1. If you try to enter the foreign tax paid in the drop down boxes made visible by checking " my form has than these boxes" in the 1099-DIV entry step-by-step, TT will treat these foreign taxes as a deduction, not a credit.
2. To enter as a credit, please open Form 1116 (View/Forms/Open Forms) and enter the information manually on Form 1116 (Copy 1). I did not use the form 1116 worksheet. You may need more copies of Form 1116 if the tax was paid on different kinds of assets, or if you have more than 3 foreign accounts.
3. If done properly, the credit will appear in the step by step summary area under "Deductions and Credits/Estimates and Other Taxes Paid/Foreign Taxes". It will also show on Line 48 of Schedule 3, Form 1040. It will also show on Line 12b, Form 1040.
Hope this helps you.
