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Form 1116 - Foreign tax credit issue

I showed a $73 Foreign Tax Paid (Brokerage account 1099-DIV Box 7) that was imported into Turbo Tax automatically with the desktop version.  Upon "checking for errors" I am getting a Check the Entry error for "Form 1116 : Line 33 should be blank".  The issue is that Line 33 is shown blank.  Line 34 is shown yellow highlight (blank of value also).  and the only line with a value is line 35 highlighted red and showing the $73 value.  I am not sure where to turn...or how to fix this issue.  Any advise would be appreciated

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1 Best answer

Accepted Solutions
JamesG1
Expert Alumni

Form 1116 - Foreign tax credit issue

This TurboTax Help states that TurboTax Desktop reports a red value as overridden, invalid or estimated.

 

Have you reported the dividend income and country code by entering Foreign Tax Credit information?  Follow these steps:

 

  1. Across the top of the screen, click Federal Taxes.
  2. Across the top of the screen, click Deductions & credits.
  3. Select I'll choose what I work on.
  4. Scroll down to Estimates and Other Taxes Paid.
  5. Click to the right of Foreign Tax Credit.

This may be helpful.

 

 

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View solution in original post

2 Replies
JamesG1
Expert Alumni

Form 1116 - Foreign tax credit issue

This TurboTax Help states that TurboTax Desktop reports a red value as overridden, invalid or estimated.

 

Have you reported the dividend income and country code by entering Foreign Tax Credit information?  Follow these steps:

 

  1. Across the top of the screen, click Federal Taxes.
  2. Across the top of the screen, click Deductions & credits.
  3. Select I'll choose what I work on.
  4. Scroll down to Estimates and Other Taxes Paid.
  5. Click to the right of Foreign Tax Credit.

This may be helpful.

 

 

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

Form 1116 - Foreign tax credit issue

It looks as though the worksheet was added by mistake or something.

I deleted the WKS and now all seems well

 

Thanks

 

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