So I'm doing the first tax return for an Irrevocable Trust.
I've got a couple 1099DIV's for the Trust, both of which have foreign income from both "Equities and Bonds" and "RIC's". In TurboTax Business, on the "Report Foreign Dividends" page, there is a selection for "RIC" or "Other Source". It appears that one or the other can be selected, but not both. So I went directly to the Forms view, brought up Form 1116 and tried to enter the RIC amount in Column A and the Equities and Bonds amount in Column B, but for whatever reason TT kept throwing up an error message on the error check, and Form 1116 got so messed up to the point where I had to delete the entire file I was working on and start over. So my question is, is there a better way to do this, or should I just enter everything under "RIC" ?
Thanks.
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You should just enter everything under "RIC".
You should just enter everything under "RIC".
Thank you for the reply DavidD66.
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