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mterrycpa
New Member

How do I change a prior year foreign tax deduction to a foreign tax credit?

I discovered that last year I had claimed foreign taxes paid on dividends as an itemized deduction, and want to amend to change it to a foreign tax credit. Searching "foreign tax credit" while amending does not provide a "jump to" in the results. How do I get to the foreign tax interview for Form 1116?
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6 Replies

How do I change a prior year foreign tax deduction to a foreign tax credit?

Enter foreign taxes in the Search box located in the upper right of the online program screen. Click on Jump to foreign taxes

mterrycpa
New Member

How do I change a prior year foreign tax deduction to a foreign tax credit?

As I stated, when I type foreign tax credit or foreign taxes in the search box, I do not get a "jump to" in the results. 

How do I change a prior year foreign tax deduction to a foreign tax credit?

Search Window Foreign Taxes.JPG

 

mterrycpa
New Member

How do I change a prior year foreign tax deduction to a foreign tax credit?

I am not preparing a current return, I am amending a previously filed return. It does not bring up the screen that you show, but a summary screen of income and expenses. Foreign tax credit search does not bring up a jump to link, only general foreign tax search topics. None of the income and expense summaries will get to the foreign tax interview where it can be changed. 

How do I change a prior year foreign tax deduction to a foreign tax credit?


@mterrycpa wrote:

I am not preparing a current return, I am amending a previously filed return. It does not bring up the screen that you show, but a summary screen of income and expenses. Foreign tax credit search does not bring up a jump to link, only general foreign tax search topics. None of the income and expense summaries will get to the foreign tax interview where it can be changed. 


I have started an amended tax return using the TurboTax online editions.  I can still click on Search and enter foreign taxes and get the Jump to foreign taxes link.  This takes me to the Foreign Taxes interview and to a screen asking  if I want to take the taxes as a Deduction or Credit.  Is that the screen you are looking for?

 

Do not search on foreign tax credit.  Search using foreign taxes

mterrycpa
New Member

How do I change a prior year foreign tax deduction to a foreign tax credit?

SOLVED - Still could not get to the link. Talked with someone at Intuit and we eventually found it on the bottom of the summary of income and expenses page, under the tax payments and estimates category. According to him, the TT online version doesn't consistently have the jump to links and instead you have to drill down pretty deep into the info to find what you are looking for. Under tax payments and estimates there was a line item for foreign taxes, and clicking on that brought me to the interview.

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