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I have foreign income reported via Schedule K-1. When claiming the tax credit on Form 1116, I see that TT has doubled the income. I cannot edit the field. How can I fix?

 
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LinaJ2020
Expert Alumni

I have foreign income reported via Schedule K-1. When claiming the tax credit on Form 1116, I see that TT has doubled the income. I cannot edit the field. How can I fix?

Did you also go through the foreign tax credit section?  If you have not filed, you might need to do so to verify.  Here are the steps: 

  • Open up your TurboTax account and select Pick up where you left off
  • At the right upper corner, in the search box, type in "foreign tax credit" and Enter
  • Select Jump to foreign tax credit
  • Follow prompts

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I have foreign income reported via Schedule K-1. When claiming the tax credit on Form 1116, I see that TT has doubled the income. I cannot edit the field. How can I fix?

Thank you, LindaJ2020.

 

Yes, I had to go through those steps in order to see that TT double counted my foreign income. 

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