It depends. I am looking at your return and I see no issues other than you did not receive a foreign tax credit. Here are a couple of things I can suggest.
- In the Dividend worksheet, when it says click on the Box, there will be an arrow that point upward and to the right. It is in the left side of the box. Select that and then select link. That should link Copy 1.
- Now go to Federal>deductions and credits>deductions and credits>estimate and other taxes paid>Foreign Tax Credit>start or revisit
- As you navigate through the screens and reported RIC is the country you are reporting, then select report income. Be sure to indicate that you wish to take the credit rather than the deduction when it asks for this.
- Next screen will say report income to RIC. Select Charles Schwab with a checkmark.
- Next screen should populate with the foreign income that was already reported.
- Say no when it asks if you wish to review your entries.
- As you finish out the section, you should receive a foreign tax credit of $XXX. The remainder will be carried over for the next ten years.
- After this section is finished, the only error message you should receive is that it asks you for the country in California where you reside.
If this doesn't work in your return. You might try deleting Forms 1116 and then go through the steps again to claim the Foreign. To delete in TTO.
- Go to tax tools
- Tools
- Delete a form
- Delete form 1116
If in the desktop version, open your return. Go to the Forms mode and select form 1116. Delete it and then repeat the steps above and let's cross our fingers that this will clear all the error messages.
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