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Level 4
posted Oct 1, 2023 4:22:56 PM

How to fill Foreign Tax credit in TT CD?

I have 3 sources of passive Foreign dividend income

 

Country  A  -  Qualified Dividend

Country B - Qualified Dividend

Country  C - RICs - Mutual funds  - Non Qualified Dividend distribution

 

In Interview mode, when go from take a Credit to detail,  Where did you receive Dividend from?

 

There is Drop down menu.

 

Should I select all country at once and go from there. I did that but it did not show up every thing in Forms (form mode) 

 

Then I deleted that and checked one country and go on then complete every thing then come back for country but now it has created a mess.

 

How to proceed? Can I just delete 1116 related items or I need to delete whole tax return and come back?

 

0 3 716
3 Replies
Level 15
Oct 1, 2023 5:56:55 PM

@pk ?

Level 4
Oct 1, 2023 6:07:30 PM

what is pk?

Level 4
Oct 3, 2023 9:30:28 PM

Last year,

Column A =  1 qualified Div,  1099

Column B =RIC mutual funds, 1099

Column C = Income and expenses and tax form k1

 

This year

 

Column A = 1 Qual Div, country A , 1099

Coumn B= 1 Qual div, Country B, 1099

Column C =RIC mutual funds, 1099

 

K1 = There are income and expense for foreign income.

 

K1 items are NOT showing on on 1116. Why? due to lack of columns?

 

TT interview is horrible, It dance around. I enter something and other item disappear. I ended up filling 1116 in forms mode. Any suggestions?