Foreign Tax from 1099 - how to capture for Complex Trust

TaxesConfuseMe2 — Mon, 23 Feb 2026 12:39:44 GMT

hello all,

I am using Turbotax Business edition for completing a return for a Complex Trust. It is fairly simple in that there is nothing distributed and the trust owns 2 brokerage accounts. The Consolidated Tax report from the brokerage is reporting Foreign Taxes for some holdings in the account. When stepping through the program, it does not ask for this info. Is it reportable or deductable? Do I need to go into the Forms view of the program to capture this?

Thanks in Advance!

Re: Foreign Tax from 1099 - how to capture for Complex Trust

Anonymous_ — Mon, 13 Feb 2023 16:38:00 GMT

I believe the program should offer a choice as to whether you wanted to take the credit or deduction.

Regardless, you can take a look at Form 1116 in Forms Mode and rectify any anomalies on that form.

topic Foreign Tax from 1099 - how to capture for Complex Trust in Deductions & credits

Foreign Tax from 1099 - how to capture for Complex Trust

Re: Foreign Tax from 1099 - how to capture for Complex Trust