topic Foreign Tax paid in 1099D in Deductions & credits

Foreign Tax paid in 1099D

Joe22 — Thu, 27 Feb 2025 19:14:01 GMT

I chose tax credit instead of deduction for foreign tax paid from my mutual funds. When I review my tax tax returns prepared by Turbotax, it shows deduction instead of tax credit. How can I make the change in Turbotax?

Re: Foreign Tax paid in 1099D

DaveF1006 — Thu, 27 Feb 2025 19:51:44 GMT

Yes, follow these steps to get back to the section where this choice is made.

Go to Federal
Deductions and credits
Estimate and other taxes paid
Foreign Tax Credit>start or revisit
When it asks We just need to check if you have any uncommon situations indicate I paid foreign taxes on income I earned while working in another country.
At some point in the interview, it will ask if you wish to take a deduction or a credit. Here you may make the choice to take the credit.

Re: Foreign Tax paid in 1099D

Joe22 — Thu, 27 Feb 2025 23:53:50 GMT

I follow your instruction and it works.. Thank you so much for your help