Form 1116 captured all foreign sourced dividend input from the 1099 DIV input screen as negative total to report on line 1a.

Forum|Forum|6 years ago
December 7, 2019
3 replies
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Why are all foreign sourced dividend reported by the program on form 1116 line 1a as a negative number to begin with? This is causing all the foreign tax paid (foreign tax credit) being unused and carried over to next year.

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Best answer by sjrcpa

What did you enter for total foreign dividend income and for qualified foreign dividend income?

sjrcpaAnswer

Level 15

What did you enter for total foreign dividend income and for qualified foreign dividend income?

The more I know the more I don’t know.

T

taxsmartcpaAuthor

Level 2

I entered through the 1099-DIV input screen which has input blanks for entries of foreign tax witheld and foreign income amount % when the screen is scrolled down.