JohnB5677
Expert Alumni

Retirement tax questions

Both the credit, the deduction and the statement  are entered in the same place. Here's what you do:

  1. Make sure you've entered all your foreign income.
  2. From within your return, search for foreign tax credit and select the Jump to link in the search results.
  3. Answer Yes to Did you pay foreign taxes in 2020 or have credits to use from a prior year?
  4. Follow the instructions to get the credit or deduction.

In most cases, taking the credit works out better than the deduction. We'll help you decide which one's best for you when you go through this section.

 

If you choose to take the credit (most people do), we'll attach Form 1116Foreign Tax Credit if your situation requires it.

 

Where do I enter the foreign tax credit (Form 1116... (intuit.com)

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"