Hi! I can't finish my taxes because I am getting the following message: "Form 1116 (COPY 1) -- Explanation Stm: Detailed Explanation must be completed. Enter your explanation here to complete the required statement. It must show the other deduction items for line 3B column a."
I do not know how to explain this because I don't know where or how to see my Form 1116. So I don't know what entry I need to explain. How can I see what my Form 1116 looks like so I can determine what the entry is that I need to explain? Shouldn't Turbo Tax be showing me the entry I need to explain?
Thanks!
Andrea
If you are seeing this message in Review, the program normally displays the area that needs an entry and you may be able to enter it from that screen.
Here is a blank Form 1116. Line 3B states "Other deductions (attach statement)".
If you are using an Online version of TurboTax, you can preview all of your forms once you have paid for the product. See here for details.
In TurboTax Online, go to Estimates and Other Taxes Paid under Deductions & Credits and select Foreign Tax Credit to enter your information about the foreign taxes paid. You should complete the entire TurboTax interview in the Foreign Tax Credit section in order for your Form 1116 to populate correctly. TurboTax will determine whether you qualify for the credit.
In TurboTax Desktop, switch to Forms mode by clicking Forms on the top menu.
See this article for more information on the Foreign Tax Credit, Form 1116, from TurboTax.