K-1 has foreign tax paid and Turbotax is deducting it on Schedule A. How do I get a tax credit via form 1116?

[Randy149]

I am already filing form 1116 based on 1099-div foreign taxes....why doesn't TT add the k-1 tax to this?

[DaveF1006 · Accepted solution]

Depending on the type of K-1 income that the foreign tax credit was based from,  it may need to be reported in another category of income.  Your Supplemental Statements that came with your K-1 may have this information. 

1099DIV is passive income that comes from INT and DIV foreign income and requires its own 1116.  If the income from your K-1 is from another category of income, then a separate 1116 would need to be generated because may be another category of income. Find out this information.