pk
Level 15
Level 15

Deductions & credits

@eberulf , neither form 1065 nor schedule-K-1  requires  declaration of specific foreign income -- each  shows the foreign taxes paid that comply with section 901/903 of IRC.   So the only way for you to get the foreign income which resulted in the foreign taxes paid ( and available  to you as foreign tax credit )  is really to call the partnership's accounting and get the amount of foreign in come (  allocable to your share/shares ) and also the country /countries/RIC etc.  TubroTax will require  these bits of info  for purposes of form 1116.    I don't understand really why this is not provided automatically.

Note however that since this is passive  foreign income, you may be able to use the  safe harbor  ( US$300 per filer ) and thus avoid the need for form 1116.  Does your line 21 meet or is around that amount ?

 

Is there more I can do for you ? 

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