Form 1116 is not generated even though my tax situation requires it
Feb 24, 2025 · Level 2 Form 1116 is not generated even though my tax situation requires it Hi, My wife and I file jointly and have a passive foreign rental income for which we don't have any qualified …
Where do I enter the foreign tax credit (Form 1116) or deduction? - Intuit
6 days ago · If you choose to take the credit (most people do), we'll attach Form 1116, Foreign Tax Credit, if your situation requires it. Note: Form 2555 (Foreign Earned Income Exclusion) calculates …
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Foreign Tax credit, Form 1116 - efile with or without form 1116
Jan 4, 2025 · Looking back at the form sections in the Turbo Tax desktop, even though there is a Form 1116 with all the work sheets, on the top it says "Form not required to be filed". There is Foreign tax …
How to include capital gains in Line 3e on Form 1116?
Mar 23, 2025 · In Instructions for Form 1116 (2024), it says: Lines 3d and 3e For lines 3d and 3e, gross income means the total of your gross receipts (reduced by cost of goods sold), total capital and …
Form 1116 - ttlc.intuit.com
Mar 6, 2025 · With regard to filling out Form 1116, 1. Enter all your foreign income in the Wages & Income section if you haven't already The above made me hit a brick-wall. Entering foreign income …
Form 1116 Box 3d when there are capital gains and losses
Feb 13, 2025 · Form 1116 box 3d (gross foreign source income) should be $30,000, which is the foreign short-term capital gains excluding the $5,000 losses from “Sale 2”. However Turbotax calculates …
Form 1116- Foreign Tax Credit - How to handle passive category
Mar 17, 2024 · Details I have interest income from 1 foreign country and dividends from 6 foreign countries, all of these are classified under the same category of passive income category when filing …
Solved: Form 1116 - AMT missing - ttlc.intuit.com
Feb 28, 2025 · The expert is assuming that the form 1116-AMT is only needed if you choose the simplified method. This assumption seems to be wrong by general practitioner opinions, that have …
Election To Claim the Foreign Tax Credit Without Filing Form 1116
Mar 13, 2021 · The instructions to form 1116 state: You may be able to claim the foreign tax credit without filing Form 1116. By making this election, the foreign tax credit limitation (lines 15 through 21 …
Solved: Foreign tax credit form 1116 explanation - Intuit
Feb 21, 2024 · Foreign tax credit form 1116 explanation As of Feb 21 2024. For my 2023 taxes I am being asked to fill out a form 1116 explanation. Is this not yet supported for 2023? The explanation …