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Foreign Tax Credit Comp Wks

Running error check and getting this error.

 

Where are I supposed to find the answer to this question?  thank you.

 
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1 Reply
pk
Level 15
Level 15

Foreign Tax Credit Comp Wks

@JimBob6 , 1. why are you filling out  form 1116 --- because of foreign capital gain that has been taxed by a foreign  country  /   dividend  earned being taxed by a foreign govt  or what ?  2. is the amount of foreign taxes paid for the year more that the safe haven amount  ( $300 for single  / $600 for joint filer ? ) .

I need more details on the situation to understand  the need for the  form 1116, including if you have carryover foreign tax credits  etc.  I am assuming here that you are a US person ( citizen/ Green Card / Resident for tax purposes  ).  Please  help

 

pk

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