- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Yes, you need to enter it again in the foreign tax section of TurboTax.
Please see the following response from my colleague, a superuser, Rogge1722 to a similar question:
This shows the header and response for each screen in order that the
1st (COPY 1) F1116 will be “general category income” instead of the
default “passive category income” which is the result of the initial
screens focusing on dividends.
To ensure a clean start, delete any F1116’s before entering the foreign tax credit interview. .
1. Foreign Tax Credit.
Continue
2. Tell us about your foreign taxes.
This screen may or may not appear for various reasons.
If displayed, click on Continue.
3. Foreign Taxes
Continue
4. Do you want deduction or credit?
Credit
5. Reporting foreign taxes paid
Continue.
6. Where did you receive dividend income?
Not used at this time, so just select the first one then Continue
7. Income from foreign countries
Done
8. Need to report income
No
9. Simplified limitation election for AMT
This screen may or may not appear for various reasons.
If displayed, will assume YES is selected
10. No other income or expenses
No
11. Completing forms 1116
Continue
12. Foreign tax credit worksheet
Continue
13. Choose the income type
General category then Continue
For screens 14 through 32, insert the applicable data.
33. Foreign tax credit summary.
You should see COPY 1 general category income
Select Done.
34. Reporting foreign income expenses.
Yes
35. Foreign taxes
Continue
TT
will exit the interview. Now re-enter the interview and work through
the screens for the dividends to generate COPY 2, passive category
F1116.