How do I get software to allow input for Form 1116 for Foreign Tax Credit due to Foreign Income Taxes paid that are related to Passive Income (cap gains)?
How do I get software to allow input for Form 1116 for Foreign Tax Credit due to Foreign Income Taxes paid that are related to Passive Income (cap gains)?
I assume you entered your income on the Form 1116 and are trying to get through the passive income section and get the tax entered. Let's continue through together.
You selected passive income, continue
Select add a country - blue button
Select the country from the drop down
continue
enter description of income and amount not already reported on the forms listed, continue
explanation of expenses, continue
enter any losses
enter foreign tax paid
select No - foreign tax paid on other income
enter the taxes
continue
Enter any AMT amounts - AMT is on Form 6251
Continue
add any more countries or select done.
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