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Deductions & credits
I have the Premier desktop version of TurboTax. I'm was having a problem entering foreign stock dividends with foreign taxes. I entered the dividends and taxes when I entered information from the 1099-DIV forms. Later, in the Deductions and Credits section, I chose to take a tax credit, and proceeded to the Foreign Tax Credit section. At this point, the form 1116 looked good. Then I ran the smart check program, and it asked me to fill in "COPY 1" on a form and also to check the Column A box. Then, when I checked Form 1116 in the form view, the divided in Column A had doubled in value and was incorrect. The foreign tax credit was also much higher. So, I manually changed the dividend in Part I and the tax in Part II and that corrected the problem.
‎June 3, 2019
2:01 PM