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New Member
posted Apr 4, 2020 1:09:17 PM

On the Form 1099-DIV Worksheet (in TurboTax ), I need to DOUBLECLICK to confirm that I want to file the Form 1116. Q: How do I DOUBLECLICK on this worksheet?

0 4 1423
4 Replies
Level 9
Apr 4, 2020 1:25:03 PM

It is not necessary to double click on the 1099-div.  If you have foreign tax paid in box 7, TT  will see it and when you go thru the foreign tax credit interview, TT will generate a f1116 and insert the data into it. 

Expert Alumni
Apr 4, 2020 3:15:51 PM

In TurboTax CD/Download, follow these steps.

  1. Go to the Forms mode and open Form 1099-DIV.
  2. Scroll down to Box 7 and click inside line 7b once until the arrow appears
  3. Click the arrow
  4. Highlight Form 1116 (Copy 1) and click Link

The reporting of foreign tax paid can be done as a deduction or as a credit. To find out more information, click this links below.

 

Regarding TurboTax, follow these steps:

  1. Enter Form 1099-DIV as received
  2. Click this article for more details. 
    1. To enter, utilize the Jump to link described here: Where do I enter the foreign tax credit (Form 1116) or deduction for 2019?
    2. Determine your preferred reporting method:
      1. to include Form 1116,
      2. only report the Foreign Tax paid on Schedule 3 line 1, or
      3. take the foreign tax paid as a deduction.

 

Additional Resources for more details:

Filing IRS Form 1116 to claim the Foreign Tax Credit

Tax Topic 856 See "Claiming without filing Form 1116"

Foreign Tax Credit Compliance Tips

2019 IRS Publication 514 Foreign Tax Credit for Individuals

@gmsmith​​​​​​​

 

Not applicable
Apr 4, 2020 3:24:32 PM

form 116 is not required in married filing joint and  FTC less than $600 all others $300

 

if you qualify, enter foreign dividend amount, FTC do not link to 1116 and enter country as various. 

Level 2
Sep 18, 2023 11:59:39 AM

Trying to edit Form 1116. I click on the Box 7b field; it produces a checkmark. I double-click the checkmark; it produces a popup box whereby I should link to Form 116.  TROUBLE!  The popup box says at the top, "Link to Form 1116". I click the blue button that says, "Link".  NOTHING HAPPENS!  Help!!