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Level 1
September 9, 2023
Question

How do I reconcile the form 1116, Line 18, that does not match 1040, Line 15

  • September 9, 2023
  • 2 replies
  • 8 views

I am trying to reconcile a variance that the program says is coming from 1040, Line 15 that transfers it over to Form 1116, Line 18.  I am off and I can't find what the system is adjusting for.

Any help of where I can look for this information?

 

 

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2 replies

Level 2
December 19, 2024

Came here with the same question/problem.  

Intuit Community Champion
December 20, 2024

If you have capital gain, or qualified dividends then that will affect the foreign tax credit. Take a look at the 1116 worksheet to see the computation of the foreign tax credit