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Level 1
posted Mar 19, 2020 1:33:39 PM

How to compute the foreign tax credit with 3 countries?

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1 Replies
Level 15
Mar 19, 2020 9:31:07 PM

@dickc1971 , generally you would treat all foreign  taxes  as "foreign " taxes  not  differentiate between the countries.  this is for active income.

For passive income like dividend / interest income, if under  $300/$600 ( mfj ) then  you can use Various and TurboTax should accept.  If over  that safe harbor amount  i.e. you have to file a form 1116 , then  again try using various or create back-up work sheet wherein you detail out the  taxes for each country -- ditto for associated foreign income that caused the  foreign taxes paid.

 

Does this help or am i in the left field ?