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P
prkwork
Level 4
May 31, 2023
Question

Foreign tax credit in USD from a K-1 entered to Form 1116 wants a currency conversion. Why?

  • May 31, 2023
  • 2 replies
  • 18 views

A partnership K-1 reports (line 21) foreign taxes paid. Entering that to Form 1116 screen in the USD area as "Other Foreign Taxes" generates a fatal error, requiring a conversion rate. Why? Should the entry go elsewhere?

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2 replies

P
prkworkAuthor
Level 4
May 31, 2023

The Help Desk called this a bug. Does anyone disagree and have a better answer?

P
prkworkAuthor
Level 4
May 31, 2023

Moreover, entering a conversion rate (1.0000) does not resolve the fatal error.

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