Does anyone have a problem with the Foreign Tax Credit Form 1116 which incorrectly includes domestic mutual fund capital gains distributions as foreign source income?

Forum|Forum|5 years ago
March 13, 2021
1 reply
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Best answer by Bill289

Kahley6

I figured out that you can't input the foreign dividends and the related foreign tax credits on the same 1099Div where your entered the domestic data.

I went to the Form 1116 input screen and entered the foreign dividends and credits as though I had a seperate 1099Div. All calculations were then done correctly.

I was unable to get an answer from the chat line except that they would look into the matter and to watch for a possible solution.

K

Kahley6

Level 2

I am having this same issue. Did you get this resolved? Id like to know what you found out.

B

Bill289AuthorAnswer

Level 2

Kahley6

I figured out that you can't input the foreign dividends and the related foreign tax credits on the same 1099Div where your entered the domestic data.

I went to the Form 1116 input screen and entered the foreign dividends and credits as though I had a seperate 1099Div. All calculations were then done correctly.

I was unable to get an answer from the chat line except that they would look into the matter and to watch for a possible solution.

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