I THINK THERE IS A LOGIC ISSUE IN TURBO TAX (or i am not seeing something obvious) IN "FOREIGN TAX PAID CREDIT WORKFLOW (ENTRY TO FILL F1116):
FOR FOREIGN TAX TO CLAIM CREDIT – I CAN ONLY ENTER DIVIDEND FOR 1 COUNTRY, NOT THE FIVE (5) I NEED TO ENTER .. TURBOTAX THEN ASSUMES ALL FOREIGN TAXES PAID ARE FOR THAT COUNTRY
Context:
I have on my 1099-DIV on line 8, $xxx.xx of Foreign tax paid on dividends I received from "company".
Those taxes are from 5 countries ( Canada, Germany, Ireland, Netherlands, United Kingdom
For each I have dividend and Foreign tax paid on dividends per country
Canada $Div_can $ForeignTax_can, Germany $Div_ger $ForeignTax_ger, Ireland $Div_ire , ForeignTax_ire
Netherlands $Div_ned $ForeignTax_ned, United Kingdom $Div_uk $ForeignTax_uk (did not put numbers here)
My steps trying to enter the 10 numbers (dividend and foreign taxes for each of the 5 countries):
I can select the 5 countries in the first screen ”where did you receive dividend income from?”
After clicking on continue I get the screen “income from foreign countries” (with my 5 countries listed below)
I select the first one (Canada), it does not let me select all 5, and click “report income” and it comes to the next screen with “report foreign tax paid to Canada”
… I am given the choice to select (checkmark) the “company” that issued my 1099-DIV where the foreign tax line 8 are reported)
… next screen is “ Foreign source income”
You reported $yy,yyy of total income from “company” . How much of that income is from Canada?
I enter my amount in “Foreign Source Income” field
The next screen is :
Reporting Foreign Taxes Paid. “you have completed reporting all copies of form 1099-DIV to a country.
Do you want to review your entries (here I have only entered 1 dividend value for Canada only …
Trying both yes or the no … I do not find the way to enter dividends, nor taxes for the other 4 countries.
Turbo tax assigns all/the total foreign taxes to the only country I was able to enter anything about.
