https://ttlc.intuit.com/community/tax-credits-deductions/discussion/form-1116-and-allocable-share/01/2595498#M247937 <P>TurboTax Premier desktop version is making it a requirement to include the adjusted basis for foreign and total assets when there are no interest expenses to allocate across the two different categories.&nbsp; What is the purpose of this when there is no allocation.&nbsp; I don't want to go and try and figure out basis of mutual funds that might generate foreign income when there is no functional purpose for impacting taxes.&nbsp; Foreign tax withholdings and claimed for the credit is over $600 in my case.&nbsp; Please review and remove this logic from the required entries.</P> Mon, 09 Mar 2026 07:43:44 GMT mminderbinder 2026-03-09T07:43:44Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/form-1116-and-allocable-share/01/2595498#M247937 <P>TurboTax Premier desktop version is making it a requirement to include the adjusted basis for foreign and total assets when there are no interest expenses to allocate across the two different categories.&nbsp; What is the purpose of this when there is no allocation.&nbsp; I don't want to go and try and figure out basis of mutual funds that might generate foreign income when there is no functional purpose for impacting taxes.&nbsp; Foreign tax withholdings and claimed for the credit is over $600 in my case.&nbsp; Please review and remove this logic from the required entries.</P> Mon, 09 Mar 2026 07:43:44 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/form-1116-and-allocable-share/01/2595498#M247937 mminderbinder 2026-03-09T07:43:44Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-form-1116-and-allocable-share/01/2613927#M249937 <P>In form 1116 worksheet, line 4b(1)a, is there an entry?</P> Thu, 24 Mar 2022 13:16:44 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-form-1116-and-allocable-share/01/2613927#M249937 rogge1722 2022-03-24T13:16:44Z