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TaxDavey
Returning Member

Foreign source investment interest expense - 1116 Comp Wks

I'm struggling with foreign source investment interest expense.  The Turbo Tax window shown below claims this number is transferred from Schedule A.  It further states that if I want to change this number I need to return to "Itemized Deductions".  I'm using the desktop software.  I'm also seeing errors on the 1116 Comp Wks asking about basis.  I don't actually have any "investment interest" but somehow there is a "0." in the box and I can't figure out where I can delete this.  See image below.

[url=https://postimages.org/][img]https://i.postimg.cc/hGXS035S/Screenshot-2026-01-26-at-10-01-09-AM.png[...]

 

Thanks in advance for any help.  

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4 Replies
TaxDavey
Returning Member

Foreign source investment interest expense - 1116 Comp Wks

Screenshot 2026-01-26 at 10.01.09 AM.png

DaveF1006
Employee Tax Expert

Foreign source investment interest expense - 1116 Comp Wks

It depends. Unless the entry is causing an error in the review stage, and prevents you from electronic filing, leave it in.

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Foreign source investment interest expense - 1116 Comp Wks

I have the exact same issue as the original poster. I'm also using the desktop software.  The 0 does cause an error in the review stage and prevents me from filing electronically.  How to fix?

DaveF1006
Employee Tax Expert

Foreign source investment interest expense - 1116 Comp Wks

If the "0" cause a problem, use a "1". This will not impact your return but should clear the error.

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