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TTAX not finding foreign taxes paid on dividends

TTax is not recognizing the entries made for foreign taxes paid on my 1099-DIVs. Using Step-by-Step/Deductions & Credits I went to "Estimates and Other Taxes Paid" chose "Foreign Taxes" it said I paid foregn taxes, I hit continue, I checked the first and second boxes and hit continue. the next window was titled "You can take the foreign tax credit" and stated: "you may take the foreign tax credit without filing out form 1116, but we dont see any foreign tax payments made" ???????? I chose the take credit option and the program bumped me back to "Deductions & Credits". I imported from one brokerage house and self filled the other 1099-DIV in question, double checked both. This isn't the first time I've done this, the amounts are correct. Why wont the program recognize the entries?

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1 Best answer

Accepted Solutions
AmyC
Expert Alumni

TTAX not finding foreign taxes paid on dividends

If your total is under $300, you should not have to do anything else once it is entered on the 1099-DIV screen. It sounds like the screen is not holding your entry.

 

A full or corrupted cache can cause problems in TurboTax, so sometimes you need to clear your cache (that is, remove these temporary files).

For stuck information follow these steps:

  1. Delete the form causing trouble, see How to Delete.  
  2. Log out of your return and try one or more of the following:
    • Don't use Internet Explorer.
    • Clear cache and cookies,
    • Sign in using a different browser.
    • Sign in using a different device.
  3. Log back into your return.
    • Enter the form again.

If this does not work, you will need to contact support.

 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

4 Replies

TTAX not finding foreign taxes paid on dividends

You do not enter foreign taxes paid through Deductions and Credits. Delete all your entries from that input

Here's where you enter it from

See HERE. When asking to add a country,choose various and put in the amount of the dividend.

 

I hope this works for you. I invite you to come back on board and share the results with us.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

TTAX not finding foreign taxes paid on dividends

I tried your link, it errored out on me and gave me a page with lines of code.

This is why I am confused, the process usually has worked for me, I went back and checked on demand tax guidance and this is the TTAX advice found on the above question I asked, it is under deductions and credits - estimates other taxes paid - foreign taxes: 

 

Special circumstances or exceptions

- You can claim the foreign tax credit without filing Form 1116 if:

- All of your foreign income was passive (most interest and dividends are passive), and

- All of your foreign income and taxes paid were reported to you on a qualified payee statement (1099-INT, 1099-DIV, or Schedule K-1), and

- You're claiming the credit for no more than $300 in foreign taxes (no more than $600 if you're married filing jointly).

The foreign taxes were paid through US brokerage accounts, we rec'd 1099-DIVs, the income the tax was paid on was passive and the foreign tax total was under $300

AmyC
Expert Alumni

TTAX not finding foreign taxes paid on dividends

If your total is under $300, you should not have to do anything else once it is entered on the 1099-DIV screen. It sounds like the screen is not holding your entry.

 

A full or corrupted cache can cause problems in TurboTax, so sometimes you need to clear your cache (that is, remove these temporary files).

For stuck information follow these steps:

  1. Delete the form causing trouble, see How to Delete.  
  2. Log out of your return and try one or more of the following:
    • Don't use Internet Explorer.
    • Clear cache and cookies,
    • Sign in using a different browser.
    • Sign in using a different device.
  3. Log back into your return.
    • Enter the form again.

If this does not work, you will need to contact support.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

TTAX not finding foreign taxes paid on dividends

Your answer makes more sense, thank you. I will try step one and restart TTAX,  however, step 2 does not apply. I am not using a browser I have TTAX loaded on a desktop.  There must be some break in the link for the entries not to show up in step-by-step or populate the form. If the above doesn't work at least I'll have another option.

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