Form 116 not working

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:

1. federal>wages and income>interest and dividends>1099-DIV
2. Report the foreign income as an ordinary dividend if this is the case.
3. check the box where it says My form has info in other boxes (this is uncommon).
4. Enter the foreign tax paid in Box 7
5. If this is interest, perform the same step as step one but report it as 1099-INT
6. Record the foreign tax paid in Box 6.
7. Delete the 1116 form by going to forms and delete all 1116 forms and worksheets associated with it.
8. Note: if you have other foreign tax credits you are trying to claim, then do not delete 1116. 

[ 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-unread-message
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?

 

@cptt21