ravanzino
New Member

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.