I am running into a Smart Check error: Foreign Tax Credit Comp Wks: Qual Div and LT Cap Gains should have a value of at least $15533 based on the 1099-Div worksheets that are linked to this COUNTRY, and the Dividend amount for the first c=COUNTRY on COPY

[chuck52nt]

I am running into a Smart Check error: Foreign Tax Credit Comp Wks: Qual Div and LT Cap Gains should have a value of at least $15533 based on the 1099-Div worksheets that are linked to this country.  The Dividend amount (line 1c on the Worksheet) for the first COUNTRY on Form 1116 Computation Worksheet COPY 1 (I have 5 forms in total) is highlighted in Red.  The Copy 1 Worksheet has a Dividend Total of $9739, and the first country (highlighted error) shows $4423.  The Dividend totals from all 5 Worksheet copies add to $17657 (and more than the $15533 cited in the error - a number I cannot find the origin of).  The 5 Forms 1116 appear correct.  But I cannot move forward until this error is resolved.

Any insight will be much appreciated.

[baldietax]

it's hard to follow but if you have 5 copies there's a lot of linking needed in your return, Form 1116 is squirrelly.  Are you on desktop, hopefully you are and using Forms mode.  I would go back through the 1099-DIVs to make sure everything is linked to the right copy/column/country, and the foreign source income is provided.

[rogge1722]

From the 1099-DIV Worksheet.

The minimum foreign qualified dividends = 1b +7d -1a.

The following procedure provides more details.

Open a new spreadsheet.

Column A is used  for both qualified and unqualified dividends, aka. “Ordinary dividends”.

Column B is used for qualified dividends only.

In cell A1, insert the worldwide ordinary dividends. This is the amount in the 1099-div, box 1a.

In cell A2, insert the foreign ordinary dividends. This amount is derived from the broker’s supplemental info.

In cell A3, subtract A2 from A1.  The result is the U.S sourced ordinary dividends.

In cell B1, insert the worldwide qualified dividends. This is the amount in the 1099-div box 1b.

In cell B2, insert the foreign qualified dividends. This amount is derived from the broker’s supplemental info.

In cell B3, subtract B2 from B1. The result is the U.S. sourced qualified dividends.

Each cell in column A must be equal to or greater than the corresponding cell in column B. If that is not the case then there is an error. Recheck all entries.

[chuck52nt]

I have a 1099-DIV that has dividends from 10 countries, thus requiring 4 Form 1116's.  How can I link the 1099-DIV to 4 copies of the Form 1116?

[chuck52nt]

To be clear, I have entered the detail for each Form 1116 on the Foreign Tax Credit Computation Worksheet for each Form 1116, and the data flows properly to each Form 1116.  And the Tax Return appears to be fine, as the total of all  Form 1116 copies is accounted for.  The problem seems to be some internal TurboTax Smart Check that seems inappropriate.  

TurboTax will not let me efile until this is resolved.

[baldietax · Accepted solution]

@chuck52nt split up the 1099-DIV by copy or even by country, that will probably resolve the consistency issue Turbotax is squawking about

[chuck52nt]

I did finally go in and revise the brokers 1099-DIV to remove the foreign dividends and taxes and created separate 1099-DIV's for each country.  Then I linked each to the appropriate form1116.  Thanks for everyone's help on this.  It is an area TT should address with a clean solution, as it appears it has been out there for years frustrating many TT customers.