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leep1192
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I have paid for self-employed turbo tax online. but i cannot find anywhere i can access to 1116 for foreign tax credit. please help!

 
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2 Replies

I have paid for self-employed turbo tax online. but i cannot find anywhere i can access to 1116 for foreign tax credit. please help!

Where do I enter the foreign tax credit (Form 1116) or deduction?

Both the credit and the deduction are entered in the same place.

Here's what you do:

  1. Make sure you've entered all your foreign income.
  2. From within your return, search for foreign tax credit and select the Jump to link in the search results.
  3. Click Continue and follow the instructions.

In most cases, taking the credit works out better than the deduction. We'll help you decide which one's best for you when you go through this section.

If you choose to take the credit (most people do), we'll attach Form 1116, Foreign Tax Credit if your situation requires it.

Note: You won't be able to take a credit or deduction for taxes paid (or accrued) on excluded foreign earned income or housing. This is because excluded income and housing isn't taxed in the first place.

Anonymous
Not applicable

I have paid for self-employed turbo tax online. but i cannot find anywhere i can access to 1116 for foreign tax credit. please help!

for passive income (dividends and interest) foreign taxes, 1116 is not required if single or married filing separately if amount is $300 or less $600 if married. filing jointly.  

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