I must be missing something. To my knowledge I don't have to complete form 1116, but TT says that I do. Here are the particulars of my situation.
- Foreign tax paid appears on one of my 1099-DIVs, and it is less than $300.00
- To my knowledge, I only have PASSIVE foreign income.
- All of my income is reported on payee statements (1099-DIV, 1099-INT, 1099-R).
- An accountant did my taxes last year and there was a foreign tax credit slightly over the $300 threshhold, but the credit was taken entirely for the 2024 tax year (no carryover to 2025).
I hope that I don't have to complete the 1116. I started those steps, but entering RIC for "country" didn't seem to satisfy TT. I gave up and came here.
Thanks!
