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Level 1
posted Apr 9, 2025 8:50:44 PM

Form 1116 (COPY 1) -- Foreign Tax Credit Comp Wks: Adj Basis of Tot Inv Ast - error if I put in zero

At the Foreign Tax Credit Comp Wks, I can't put zero in for Adj Basis of Tot Inv Ast and Line 4b2c Total, it creates an error and thus doesn't allow me to e-file. I don't have investment in those areas, so it has to be zero (as shown in the screenshots).  

How can I get around it? 

Thank you for your help!

 

 

0 1 525
1 Replies
Level 15
Apr 9, 2025 9:07:28 PM

@firstfiler , you have to provide more information for one to understand why your adjusted basis should be zero.  Please tell --- what foreign source income, what type, which country, how much tax  etc.    Are you trying to do the whole thing in forms mode or you are just correcting items .

Will circle back once I hear from you.   If the answer  to your prob. is not obvious  from your detailed answer, then I will need enough to simulate and see  what Turbo is doing.