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Mom-to-4
New Member

Doing kids taxes, how can I get around being required to upgrade to TurboTax deluxe, when said kid has $3.01 in foreign tax paid by a mutual fund?

 
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ChristinaS
New Member

Doing kids taxes, how can I get around being required to upgrade to TurboTax deluxe, when said kid has $3.01 in foreign tax paid by a mutual fund?

The program/ computer brain doesn't recognize materiality like a person would. It only knows that the data exists, and doesn't decide whether it's needed.

If you want to get around this, just take the $3 out of the 1099-DIV for Foreign Tax Paid (box 6).

You won't be given the $3 credit (which might not make a difference anyway), but you won't be required to upgrade either.

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1 Reply
ChristinaS
New Member

Doing kids taxes, how can I get around being required to upgrade to TurboTax deluxe, when said kid has $3.01 in foreign tax paid by a mutual fund?

The program/ computer brain doesn't recognize materiality like a person would. It only knows that the data exists, and doesn't decide whether it's needed.

If you want to get around this, just take the $3 out of the 1099-DIV for Foreign Tax Paid (box 6).

You won't be given the $3 credit (which might not make a difference anyway), but you won't be required to upgrade either.

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