You will use the K1 information on the one you received from the 1041. Because this was a fiscal year you will use the 2021 K1 that was received to enter your information.
Both 2022 and 2021 1041-K1s have the same information for the code B in Box 14. This is the foreign tax you paid which you may be entitled to credit for on your 2022 tax return.
If you show dividends on your Beneficiary Foreign Tax Credit Sheet then you would report those as dividends on your tax return. You can choose to use your foreign tax paid as an itemized deduction if you itemize. The following article will help you enter your foreign tax credit or deductions.
Please update here if you need additional assistance and one of our tax experts will help.
@Splash232003
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
