jasdlm Posted February 23, 2010 Report Share Posted February 23, 2010 How do you enter the foreign tax credit for dividends paid by a mutual fund? You can't use 'various' for the date or the country, and it's not flowing through correctly. What am I missing? I'm sure this has been discussed before, but I have searched this website and the ATX site and can't come up with it. Apologies for the duplication. Thanks. Quote Link to comment Share on other sites More sharing options...
rich Posted February 23, 2010 Report Share Posted February 23, 2010 On 1099 Div worksheet in box 7a Droplist click on unknown country,its quite hidden in country list, hopefully it works. Rich Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 23, 2010 Report Share Posted February 23, 2010 Gee, wish I'd seen that sooner, just finished a return with a $4 foreign credit, and I gave up and deleted it because it was not worth enough to charge them for. Quote Link to comment Share on other sites More sharing options...
Lynn EA USTCP in Louisiana Posted February 23, 2010 Report Share Posted February 23, 2010 Gee, wish I'd seen that sooner, just finished a return with a $4 foreign credit, and I gave up and deleted it because it was not worth enough to charge them for. I've been using "Other - not on list", which worked well. Didn't know there was an 'Unkown' option. Sometimes, though, the system has automatically added the 1116 after which the foreign tax didn't show up properly. Once the 1116 was deleted then the foreign tax flowed to the proper line. Thanks for that. Lynn Jacobs, EA, NP Kenner, La Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted February 23, 2010 Report Share Posted February 23, 2010 Gee, wish I'd seen that sooner, just finished a return with a $4 foreign credit, and I gave up and deleted it because it was not worth enough to charge them for. Couldn't qualify for the $300 rule? taxbilly Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 24, 2010 Report Share Posted February 24, 2010 Client was in a hurry, I was fed up with the multiple forms popping up for $4, so I just deducted the 4 from their bill and got n with it. Everybody happy. Quote Link to comment Share on other sites More sharing options...
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