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eugenejhan
New Member

Do I really need to purchase turbo tax deluxe for entering 0.85 dollars worth of foreign tax paid from my Betterment account? My filing is so simple (3 forms only).

I have 3 total forms for my tax return - W2, 1099 DIV, and 1098T. Extremely simple filing. I am a returning user for Turbo tax, but it is requiring me to buy the deluxe version since in my 1099 DIV form, there is a "foreign tax paid" which cannot be processed by the free version. Is there a way to override that? 

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BobinCT
Level 7

Do I really need to purchase turbo tax deluxe for entering 0.85 dollars worth of foreign tax paid from my Betterment account? My filing is so simple (3 forms only).

You are not required to report foreign tax paid.  But if you did it would reduce your US taxes by that amount (within limits).  So not doing so will cost you, in this case, exactly one dollar.  You might be willing to abandon that to avoid having to buy the more expensive version!

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BobinCT
Level 7

Do I really need to purchase turbo tax deluxe for entering 0.85 dollars worth of foreign tax paid from my Betterment account? My filing is so simple (3 forms only).

You are not required to report foreign tax paid.  But if you did it would reduce your US taxes by that amount (within limits).  So not doing so will cost you, in this case, exactly one dollar.  You might be willing to abandon that to avoid having to buy the more expensive version!

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