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I am trying to get a foreign tax credit of $297 using From 1116. I did it last year but can not can't get it work for 2021. How do I do this?
The foreign tax was paid to a Vanguard (US company) ETF. Should be easy to do.
I am using the Premier Mac desktop version.
Please end my nightmare. Thanks
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You should not need a Form 1116 to report a foreign tax paid from Vanguard because it is less than $300. If you are trying to report this on form 1116, you may wish to report this in the program itself.
To do this, you can report this as a 1099 DIV by going to:
[ Edited 03/04/22|03:12 PM PST]
This long thread addresses the same question.
https://ttlc.intuit.com/community/taxes/discussion/missing-2021-form-1116/00/2409904/jump-to/first-u...
Bottom line: Update your copy of TTax and it should then get the correct form 1116.
I used form 1116 last year and every year to get the credit.
What are the steps using form 1116?
Thanks
Carlos
First, be sure that your TurboTax program is up to date. Form 1116 was not available right away and may have just been released recently.
Then, take a look at the following TurboTax article for more details about how to enter your information to claim the credit:
Where do I enter the foreign tax credit (Form 1116) or deduction?
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