Since an S-Corp is not eligible to take a foreign tax credit, you simply need to enter the Foreign Tax Paid or Accrued from line 21 into the K-1 entry in your S-Corp returns and they do not get reported on your S-Corp Schedule K or K-1(s).
To enter a Partnership K-1 into your Form 1120S in TurboTax Business you can follow these steps:
- Within your return under the Federal Taxes tab and Income, scroll down to Schedules K-1 and click Start
- Enter your K-1 as shown on the Schedule you received
@leap500
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
