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IS the Foreign Tax Credit Computation Worksheet required now for 2020 return? I have the same setup as in 2019 and did not have to complete this worksheet in 2019

Turbotax keeps asking me to enter in Form 1116 COPY1 Foreign TAx Credit Comp Wks in b) Deductible other interest, but I have not requested any reduction in foreign taxes and don't have any other interest.
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1 Reply
LinaJ2020
Expert Alumni

IS the Foreign Tax Credit Computation Worksheet required now for 2020 return? I have the same setup as in 2019 and did not have to complete this worksheet in 2019

You can try to remove the worksheet from the program.  Here are the steps:

 

In TurboTax online,

  • Sign into your account, select Pick up where you left off
  • From the left menu, select Tax Tools, click on the drop down arrow
  • Select Tools
  • Under Other helpful links, choose Delete a form
  • Select Delete next to the Computation worksheet and Continue with My Return

 

If you have any deductible interest expenses including Investment, Passive and Trade or Business, your foreign tax credit will be reduced.  This amount will show on Schedule 3 line 1 and line 20 on Form 1040.  

 

 

 

 

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