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WBL41
New Member

foreign Tax credit

Turbotax CD 2023. The prompt calls for entering all foreign income by country for each 1099 or k-1 reported. When I select a country and enter for each applicable 1099 it requests "select review or continue". When I review and add country the numbers change and if more then 1 country entered the Form 1116 shows only one of multiple countries with total foreign income under that one country. Any suggestions? 

 

For example if I enter for France Canada and Brazil the Form 1116 shows only France in Column A with total input for 3 countries?

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1 Reply
MarilynG1
Expert Alumni

foreign Tax credit

Yes, there's a Form 1116 for each country.  If your Foreign Income is reported on 1099-Div or 1099-Int, choose Country 'RIC' (Regulated Investment Company) and enter the total Foreign Tax and Foreign Income so only one Form 1116 is needed for this type of income. 

 

Here's more info on Claiming the Foreign Tax Credit.

 

 

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