1041 form 1116

Forum|Forum|6 years ago
June 6, 2020
2 replies
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I have input mutual fund dividends in a 1041. They include foreign tax. I have input the foreign tax credit in form 11116 below the dividends. The form 1116 is not being produced. Any idea of what I am doing wrong?

Lacerte Tax

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George4Tacks

Level 15

Edited for 1041

Screen 36 > Select choices for the first two items, e.g. OC (since many mutual funds to not list well) and Passive Category Income

~~In Credit section, click Gen.Info/Elections > Resident of (probably United States) and if appropriate, enter 1 to elect to not waste paper on the 1116 form.~~

Screen 16 > do the entries you mention and Select 1 for the Form 1116 name or number (O) in the Foreign Tax Credit Section

Answers are easy. Questions are hard!