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Foreign taxes reported on a K1 from a Trust

The K1 shows  $377 foreign taxes on line 14 code B from a C(haritible) R(remainder) U(nie) T(rust). We're married, filing jointly. I was under the impression that we did not have to bother with form 1116, but TT is prompting me to do it. Confused.

 

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1 Reply

Foreign taxes reported on a K1 from a Trust


@leenaud wrote:

I was under the impression that we did not have to bother with form 1116, but TT is prompting me to do it.


TurboTax should actually give you a choice; a credit or a deduction. If you want the credit, then you have to go through the Step-by-Step procedure for Form 1116.

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