In Turbo Tax, where do I enter foreign taxes paid in foreign currency for Form 1116, Part II?

[KarenJ · Accepted solution]

There is no place in TurboTax to enter the foreign taxes in foreign currency. It is not a required field. You just need to enter the US dollar amounts.

[karenkailua]

In previous years I read here that I needed to manually write the amounts in foreign currency on the 1116, and also attach an explanation statement with the return re: the currency conversion. This caused me to have to mail my return in. Did the rules change this year?

[karenkailua]

Checked the IRS instruction and it still states you must enter the foreign currency amount in Part II and attach a detailed explanation about conversion method. The only thing I can find that says you don't need to enter foreign currency amounts is a "TIP" in the IRS instructions that says if the income is reported to you in USD on a 1099 or other legit document then you don't have to enter foreign currency amounts. I really want you to be right so I can e-file, but I can't find anything to support your answer.

[fjordlander]

@karenkailua Did you get any further clarity on this? I'm dealing with the same issue.

[karenkailua]

No response. The lack of follow up is super irritating. I'm trying really hard to avoid having to print and mail, but I think I'll have to.

[fjordlander]

@karenkailua @TurboTaxKarenJ I found this similar question and user commented that the solution was to get the desktop version of TurboTax which apparently allows editing the forms themselves, then we can e-file: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4702553-does-turbotax-not-support-reporting-a-tax-credit-on-foreig...>

[karenkailua]

Thanks! I really appreciate the info.