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Level 2
March 19, 2022
Question

Reporting Foreign taxes paid on 1099-DIV

  • March 19, 2022
  • 1 reply
  • 6 views
Hi - I'm preparing a return with a small ($20) amount of foreign taxes paid per a 1099-DIV.  I think I should be able to elect a 'simplified method' without having to do the Form 1116, but for the life of me I can't figure out how to do this in PROCONNECT, which keeps pointing me to do a Form 1116. Any ideas?
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1 reply

George4Tacks
Level 15
March 19, 2022

Credits > Foreign Tax Credit > in the upper right click the Gen.Info/Elections > 2nd entry input a 1 (or 2 if you like to see things in print) 

Answers are easy. Questions are hard!
DanFAuthor
Level 2
March 19, 2022

Thanks!!