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Business & farm
Very helpful, thanks! Yeah foreign tax credit is the thing that always throws me off every year it seems like. =( It seems simple enough at first and then I'm down the rabbit hole trying to cross-reference my raw data against TT's interview questions.
> Schedule K-1 Worksheet - Estates and Trusts, Box 14 Code B : Foreign Tax Information section, line 7 (if it has a value); otherwise income reported in Part III lines 5, 6, 7 and 8 plus
I'm using TT Online, but I assume line 7 in the Desktop platform correlates to "Gross Income Sourced at Beneficiary Level: Foreign Source Income" ?
Do "Part III lines 5, 6, 7 and 8" above also correlate to information taken from the K-1?
March 29, 2021
7:01 AM