Form 1116 Problems

[scottm2004]

No matter what I do verifying that Form 1116 is correct, I get the rejection message for an error and am asked to review "ForeignTaxesPaidOrAccruedDt". Is the TurboTax system compatible with Form 1116?

[JoannaB2]

 If you paid taxes on your foreign investments, you may qualify for a foreign tax credit (Form 1116).The foreign tax credit is reported on 1099-Div statement, box 7 showing foreign taxes paid or 1099 Consolidated Brokerage Annual Statement.  

You may do a federal reciew on your return in Turbo Tax:

1. In Tax Home Screen, click Federal.
2. Jump to Federal Review.
3. Under Federal review, it will display the error/s on your federal income income tax.
4. Click each review, it should take you to the line that had error/s.
5. Once fixed, you go back to Federal Review to check if it's ready to e-file.

See, how to enter foreign tax credit or deduction,  

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