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Should my K-1 Foreign Tax Credit show on my Schedule 3?

I have been through the K-1's foreign tax interview many times and selected Credit, still no Schedule 3 entry.
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1 Reply
JamesG1
Employee Tax Expert

Should my K-1 Foreign Tax Credit show on my Schedule 3?

Are you receiving an error message?  What does the message say?

 

Or does the computation simply not compute a credit?

 

In general, the tax credit can lower your tax liability in the United States,

 

  • but only up to the amount of foreign taxes paid, or 
  • only up to the amount of the U.S. tax liability on the foreign income,
  • whichever is lower.

See this TurboTax Help.

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