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Deductions & credits
Yes, Form 1116 is the correct form. The Foreign Tax Credit can be entered using the steps in the link below. Also included is the link for the exchange rate should you need it.
You will need the exact dollar amount of actual tax paid to Hungary. The link will provide TurboTax Desktop version instructions.
- Where do I enter the foreign tax credit (Form 1116) or deduction?
- Yearly Average Currency Exchange Rates
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‎February 3, 2025
1:17 PM