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Trying to add Income from Foreign Countries from multiple countries is not working.

I am trying to submit Foreign Tax details for Foreign Tax credit. This is for 1099-DIV and 1099-INT income received for stocks I hold.
The steps ask for Income from Foreign Countries. Then option to add this information is done using Report Income step, however this step only asks for information for just one country. There seems to be no way to add infromation for other countries. Also the number of countries to select is limited. Is this a bug or feature limitation in TurboTax? How to address this issue?
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Accepted Solutions
KurtL1
Expert Alumni

Trying to add Income from Foreign Countries from multiple countries is not working.

On the Foreign Tax Credit calculations, it is not the Country of Origin but amount of taxes and the amount of Income designated as being taxed by a foreign country and what is the classification of the income.

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6 Replies
LinaJ2020
Expert Alumni

Trying to add Income from Foreign Countries from multiple countries is not working.

Please select "Various" in the drop-down menu selections.  See the image below.

 

 

 

 

 

 

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Trying to add Income from Foreign Countries from multiple countries is not working.

I do understand that there is an option to put in various and RIC where needed. However, I still don't understand why there is no option to enter the individual amount for each country. All I am asking is if this is a limitation of TurboTax?

KurtL1
Expert Alumni

Trying to add Income from Foreign Countries from multiple countries is not working.

On the Foreign Tax Credit calculations, it is not the Country of Origin but amount of taxes and the amount of Income designated as being taxed by a foreign country and what is the classification of the income.

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

Trying to add Income from Foreign Countries from multiple countries is not working.

Thank you KurtL1 and LinaJ2020. With both of your responses I've gone ahead and selected RIC for submitting my foreign taxes paid. 

Although your responses are towards the validity of which option to choose, I think TurboTax providing option to select multiple countries and then not allowing option to input values for each of those countries is actually a software bug, but in any case, as long as IRS just needs the total amount and I can provide that using RIC or Various value for country, I am all good. 

Thank you both for taking the time to help guide me.

Trying to add Income from Foreign Countries from multiple countries is not working.

I have encountered the same problem, it doesn't make sense to me that the software asks you to list every country, and then, doesn't allow you to input the data for each individual country. I remain confused as to whether this is a bug in the software, or if I'm simply doing something wrong, or don't understand the US tax code.

LinaJ2020
Expert Alumni

Trying to add Income from Foreign Countries from multiple countries is not working.

TurboTax only allows you to select one country per payer, unfortunately.  You might want to sum up the number and put it under one country.  Here is the discussion, click here:  Multiple countries  

 

We are aware of the issue and have submitted it for further investigation.  

 

Here are the steps: 

 

You will first need to enter 1099-DIV into the program.   

  • Sign in to your account, select Pick up where you left off
  • At the right upper corner, in the search box, type in 1099div and Enter 
  • Select Jump to 1099div
  • Follow prompts

 

Then, you will enter info under "Foreign Tax Credit" section.  Follow here:  

  • At the right upper corner, in the search box, type in "foreign tax credit" and Enter
  • Select Jump to foreign tax credit
  • Follow prompts
  • On screen, "Tell Us About Your Foreign Taxes", check the first box ( You have no more foreign taxes to enter other than the 1099-DIV, 1099-INT, 1099-OID or a Schedule K-1)  and others that apply
  • Follow prompts
  • Choose the Income Type, select "Passive Income"
  • On screen, "Country Summary", add a country to continue
  • On screen, "Foreign Taxes Paid", under foreign taxes on Other Income, enter the amount

If you have paid taxes to both foreign and the US tax authorities, the IRS allows you to claim a foreign tax credit on your US tax return.  To claim this foreign tax credit, you would need to file a Form 1116 Foreign Tax Credit. 

 

 

 

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