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Level 2
posted Oct 1, 2023 12:25:22 PM

Foreign Tax Credit Computation Worksheet Part 1

I entered several 1099-DIV for mutual fund and brokerage transactions back in April but didn't enter the Total Foreign Source income (in April). I had to wait until Sept 2023 to update several K-1s, so I revisited the 1099-DIV entries to check them and realized my error (in not entering the Total Foreign Source Income). I corrected all these 1099-DIV entries and now am getting an error saying I have not entered the (Part I, g, 1, c) "Interest and Dividends from Schedule B" and I have some questions about this.

 

1. Shouldn't TT have updated this data when I corrected the 1099-DIVs? Is this a bug?

2. What is TT asking for in this line (Part I, g, 1, c)? Is it asking for the Total Interest and Dividends from Schedule B, or only the Foreign Interest and Dividends (the percentage of Total Interest and Div from Foreign sources)? How would I know what to enter here? Is there a help file for these worksheets?

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1 Replies
Level 15
Oct 1, 2023 2:02:49 PM

You might have to contact Support if Champ @pk can't answer this.

 

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