the amount inserted into form 1116 line 18 is supposed to be the amount from 1040 line 15 (total taxable income). Turbo tax is using a different amount

[thomas-vainius-c]

can not find the amount inserted by turbo tax in any other document including the government and turbotax worksheets

[AnnetteB6]

If your Form 1040 tax is calculated using the Qualified Dividends and Capital Gains Tax Worksheet, then the amount on Form 1116 line 18 is not necessarily the amount from Form 1040 line 15.  

The IRS Instructions for Form 1116 includes a worksheet that is used to calculate Form 1116 line 18 when the Qualified Dividends and Capital Gains Tax Worksheet is used.  

Look at your Form 1040 Worksheet for the calculation of the income tax on line 16 to see if the Qualified Dividends and Capital Gains Tax Worksheet was used for your return.  If so, there should also be a worksheet included as part of your return to calculate the amount shown on Form 1116 line 18.

For reference, here is a link to the IRS Instructions for Form 1116.

[thomas-vainius-c]

the dividends and capital gains was used and is included when i print out the return with government and turbotax worksheets....however the form 1116 worksheet is NOT included in the PDF of the return.  So I had to do the calculation manually, which is correct, but turbotax should include ALL of the worksheets used so that users can confirm accuracy of the return.  Why is this worksheet not included in the PDF of return + government and turbotax worksheets?

[Benoit2]

So, does Turbotax include explicitly the Worksheet for line 18 of Form 1116 (Worldwide Qualified Dividends and Capital Gains)? It does not seem like it does or where can one finds it (except for the IRS web site obviously)?

[RobertB4444]

The worksheet is included in the desktop version of the program.  The online version apparently does not have access to it in the 2024 version of the program.

@Benoit2 

@thomas-vainius-c 

[Benoit2]

I have the desktop version and I am still unable to find the Worksheet for Line 18 of Form 1116 (Worldwide Qualified Dividends and Capital Gains). Any more insight?

Thanks

[DawnC]

Line 18 of the foreign tax credit form (Form 1116) is equal to your total taxable income for 2024 - Line 15 of Form 1040.   @Benoit2