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byrlbragg
New Member

I received 2 statements from separate firms which contain foreign taxes paid. Do I need to complete separate Form 1116s for both firms?

How can I switch the reporting firm's name on Form 1116?
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2 Replies

I received 2 statements from separate firms which contain foreign taxes paid. Do I need to complete separate Form 1116s for both firms?

if the category is the same you complete one 1116. you link the first to column a on the form and the second to column b on the form

 

byrlbragg
New Member

I received 2 statements from separate firms which contain foreign taxes paid. Do I need to complete separate Form 1116s for both firms?

I read the instructions to state that I need one Form 1116 for each statement. TT won't let me post to 2 payors. The first entry gives a selection of either firm, but, when adding additional countries, there's only one firm to select from. Why doesn't TT address this, as I'm sure there are filers who change investment firms during the year and have 2 statements. Thanks.

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