TTax is only accepting 1 foreign income source, reflected on Form 1116.
However I have 2 to report, one from a specific country held in a single stock with one broker, reported on the broker's 1099 statement; the other is for 3 mutual funds held by a different broker, reported on their 1099 statement. Either the single-stock foreign tax paid is registered by Ttax on Form 1116 or the mutual funds get registered on Form 1116 (and not the single-stock).
I had started to fill out foreign taxes paid before 3 March, beforeForm 1116 was finally made available.
Is there a bug in the new Form?
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starts with box 7 on 1099-div. enter FTC. next line link to a copy of an 1116. then check column a and enter country. 2nd and 3rd 1099's same copy 1116 must use column b then c.
for 4th 1099 you must add a second copy of the 1116 then next line you check column a for the proper column on the second 1116
Thank you. In fact I just went through the Ttax steps again and filled out the entries for both country sources (one a specific country and the other an NIC).
This time Form 1116 generated correctly, across cols A-B-C.
In fact there should be no need for a second Form 1116 as these are both the same income category (passive) and there are only two sources, as per Ttax special note. I may have confused the issue by saying that there were 3 different mutual funds reported, but these were all treated as one taxable source by the brokerage report, so I had only 1 specfic country source and 1 NIC, thus 2 sources, which 1 Form 1116 can accommodate.
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