Foreign Tax Form 1116

[Dave T]

T/P has two 1099 DIV with Foreign Tax paid totaling 999 so I realize it can't be put directly on 1040.

 

Here is the data on the two:

 

Fidelity Canada Dividends and Qualified Div. - same amount $ 2417 Capital Gain Distribution $ 21,517  Foreign Tax 406

 

Paine Weber - Other Country Dividends and QD - the same - $ 4137 - Foreign  Tax 593

 

I've input these two items into the Detail schedule of the 1116 but nothing is flowing to the 1040.  I'm obviously doing something wrong but can't figure it out.  In column (c ) Income amount what should go in there?  Is it the total dividends and capital gain or something else?

 

I recall having a similar issue with this last year but can't recall how I resolved it.

 

Thanks for any help.

 

Dave T

[Lynn EA USTCP in Louisiana]

I saw thread similar to this topic on the 'official' community site.  The answer to the problem has something to do with a 'drop down' box at the top of the input sheet.

[Abby Normal]

Put it on the 1099-DIV and let it flow to the 1116. That always works for me.

[BulldogTom]

I saw thread similar to this topic on the 'official' community site.  The answer to the problem has something to do with a 'drop down' box at the top of the input sheet.

I think this is the right track.  You have to select from the box and then fill in the rest of the required information for it to flow correctly.

 

I am not in front of the software, but I recall having to do that earlier this year.

 

Tom

Newark, CA