topic We encountered an issue processing your e-filed return. Please review the "ForeignTaxesPaidOrAccruedDt" on Form "1116" in the section "ForeignTaxCreditSource". in Business & farm

We encountered an issue processing your e-filed return. Please review the "ForeignTaxesPaidOrAccruedDt" on Form "1116" in the section "ForeignTaxCreditSource".

msj.108 — Sat, 13 Mar 2021 03:36:56 GMT

1116

Re: We encountered an issue processing your e-filed return. Please review the "ForeignTaxesPaidOrAccruedDt" on Form "1116" in the section "ForeignTaxCreditSource".

pk — Sat, 13 Mar 2021 04:04:25 GMT

@msj.108 It is looking for the date when you paid /accrued the foreign taxes claimed. TurboTax should have asked for this date -- most people out in 12/31/2020 for the tax year 2020. Note that if the foreign country's tax year is different from that of USA ( for example UK runs from 04/01/2020 through 03/31/2021 ), you have to adjust to make this fit into the US Calendar year ( tax year) -- you have to do the same for the earnings also ( for purposes of foreign earnings and exclusion.

Also form 1116 needs to have the source country entered --- its either RIC / Various for investment income through US brokerage or the Two letter code for the country where the income came from ( source country ) --- this is because you cannot get credit for countries where US prohibits / sanctions interaction.

Does this make sense and solve your issue ?

Re: We encountered an issue processing your e-filed return. Please review the "ForeignTaxesPaidOrAccruedDt" on Form "1116" in the section "ForeignTaxCreditSource".

msj.108 — Sat, 13 Mar 2021 04:36:54 GMT

thank you for the quick reply. your answer is more on point than other "help" I have received from Turbotax. all income was RIC. I seem to get an endless loop. we will see if my return is accepted.