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weissbeir
New Member

As a us ciizen,living in germany, how to enter paid german taxes on passive income & SS distributions on my 1040 and get credit from us taxes paid on these same items?

 
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KarenJ
Intuit Alumni

As a us ciizen,living in germany, how to enter paid german taxes on passive income & SS distributions on my 1040 and get credit from us taxes paid on these same items?

You will first need to enter the income in TurboTax.  If you have German dividends or German interest, enter the amounts as if you had a 1099-INT or a 1099-DIV.  On the screens where you enter the income, click that your form has info in more than just these boxes and then enter the foreign tax in Box 7 for dividends and Box 6 for interest.

Then after entering your income:

To report you German tax paid on your SS distributions for foreign tax credit:

  1. Enter foreign tax credit in the search box at the top of the page and click the Jump to link
  2. Click 'Yes" you paid foreign taxes
  3. Click through the screens regarding foreign interest and dividends
  4. Click yes that you have reported all your foreign income already in TurboTax
  5. Click that you want to take a credit
  6. Answer question about the Simplified Limitation Election
  7. Choose income type SS distributions for  - it will be Passive income
  8. Add Germany as the country
  9. Enter description -German distribution
  10. Enter Income amount that you previously reported in TurboTax
  11. Enter your taxes you paid on your foreign income in the box "Other income"
  12. Continue through ALL the foreign tax credit screens until done.

 




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