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If you have foreign taxes listed in box 6 on Form 1099-INT or box 7 of Form 1099-DIV you will likely be entitled to a foreign tax credit. You can remove those entries if you don't want the foreign tax credit. You may have to delete your 1099 form entry though to clear out the foreign tax situation and re-enter them.
You can delete Form 1116 (Foreign Tax Credit) from your return. To delete a form in TurboTax Online, here's the general procedure for viewing a list of all the forms in your return and deleting unwanted forms, schedules, and worksheets in TurboTax Online:
I tried that but do not see this form, either its title or its number, listed among the forms that I can delete. Instead, I see:
So, which item should I delete so that I can remove Form 1116 (Foreign Tax Credit) from my return?
Thanks.
To clarify, did you report a 1099 DIV or 1099 INT in your return?
Yes to both. I have three 1099-INT and one 1099-DIV. All of them are US-based companies with US addresses.
Does this affects the Foreign Tax Credit?
Thanks.
If you have foreign taxes listed in box 6 on Form 1099-INT or box 7 of Form 1099-DIV you will likely be entitled to a foreign tax credit. You can remove those entries if you don't want the foreign tax credit. You may have to delete your 1099 form entry though to clear out the foreign tax situation and re-enter them.
That solved it. Thank you!
The forms I need to remove- 1116- do not appear under the list of forms and sheets
Try deleting the entry that is giving rise to the credit. This is most often (though not always) in the area for dividends (Form 1099-DIV).
@JAC225
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