I was in the middle of itemizing foreign taxes to take foreign tax credit entering each country in the drop down menu. I lost the screen and now cannot bring it back up!

[dwitus]

Turbotax said I could take a credit or a deduction. I chose the credit. It brought me to a screen to enter country by country. I must have flicked the mouse a bit too hard so it went off that screen and now it's nowhere to be found. Any suggestions??

[MindyB]

Try this link to go directly to the foreign tax credit input: Form 1116

Or, navigate to this path:

1. Go to Federal > Deductions & Credits > Deductions & Credits Summary

2. Scroll to Estimates and Other Taxes Paid and click to expand

3. Start or revisit Foreign Tax Credit

[dwitus]

(EDITED - I found the right form after using your direct link rather than the UI. Thanks!) I got to the form again but could have sworn that when I was using it before, the item list was extensible. I've got about 20 countries where I paid foreign taxes and I could add them with a "+" symbol (and there was a drop down for each country name in the left column) but now all I see are these two entry rows with no ability to add more, and no constraints on what I enter (drop down named country in left column, dollar amount in right). Am I on the wrong form? 

[dwitus]

Uh oh - This form is definitely NOT working as expected.

I followed the directions (see below). I entered each country from the drop down. On the next screen it populated them all ... Various, Germany France, Japan, etc. I then entered the qualified dividends and foreign tax paid for Various. I expected when I entered "Done," it would bring up the next country listed on the now populated dropdown. Instead, when I went to the next screen, it said I was finished. All done with just "Various."

Then, when I went back to the screen before, which had the list of all the countries populated from the drop down, they disappeared. Which means, I would have to re-enter them, but even that does not work, because if I go through the same process again, they would just disappear after I enter the information for "Various."

TurboTax expert team - please explain what's going on and/or if I am doing this wrong. 🙂

[dwitus]

Directions were as follows:

When you have foreign income from multiple countries, the IRS requires you to report it per country, unless it comes from a Regulated Investment Company (RIC).

But, sometimes financial institutions don't give you enough info to figure out how much income came from each specific country. In this scenario, we allow you to select "various." You just need to make sure all income you report as "various" falls into the same income category so your tax info will be correct.

If you're able to break down your foreign income by country, the IRS requires you to report it for each country individually. To do this:

Go back to Dividends with your Form 1099-DIV (or sometimes it's reported on a Form 1099 or K-1)

Report each country's income source on its own form

 - Make sure the total adds up to what's reported on the original form

 - - - Return to Foreign Taxes to complete the rest of your info

- - - Example: Let's say your Form 1099-DIV reports $1,000 in dividends. $100 from France, $50 from Canada and $850 from the US. Rather than entering one Form 1099-DIV, you'll enter three of them. The first copy is for $850 with no foreign tax since it's US income. The second copy is $100 with foreign tax equal to what you paid France. The third copy is $50 with foreign tax equal to what you paid Canada.

[DaveF1006]

If your income is strictly from interest and dividends, you can use "various" in the country dropdown to report all interest and dividends combined.