Business & farm

Since there no foreign taxes paid, there is no need to fill out a form 1116.  I suggest you dispense with all foreign transactions. If you choose to do this, then in Forms Mode, in the left pane, click on the k-1 partner to bring it up on the right pane. Scroll down to 17 and just above it there is a quickzoom to add additional foreign tax info. Click on it and it will bring up the additional info wks. Scroll down to "Box 16: foreign transactions." Then under "Code P, Q, etc ", locate line 3a. It states "do you elect to forego completion of f1116." Check mark the Yes box.  That will clear all errors and  will dispense with foreign transactions.. 


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