IreneS
Intuit Alumni

Deductions & credits

 

  1. Click on Federal Taxes > Deductions & Credits [In TT Home & Biz:  Personal > Deductions & Credits > I'll choose what I work on].
  2. Scroll down to the Estimates and Other Taxes Paid section.
  3. Click on the box next to Foreign Taxes
  4. On the Foreign Tax Credit screen, click on the Yes box.
  5. Continue through the interview, entering the requested information. 
  6. You will come to the Carryovers screen.  Click the Yes box.  
  7. Enter your carryover amounts on the next screen -- Foreign Tax Credit Carryovers.  

Since you paid the taxes in 2019, include them as a payment as you go through the Foreign Taxes section.

If you have different categories of income (passive, general, etc.) you will need to add a Foreign Tax Credit Computation Worksheet for each category of income. 

  • As you go through the screens, you will come to the Choose the Income Type screen, which allows you to select the category for the taxes/carryover.  
  • When you have finished entering the first carryover, you will be brought back to the Foreign Tax Credit Summary screen.  Click on the Add a Foreign Tax link to go through the interview for another category of income. 

 

[Edited | 4/14/2020 |  11:59am PDT]





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