miatax Posted April 3, 2009 Report Posted April 3, 2009 Re: Form 1116 - Foreign Tax Credit Line 1a - Gross Income from sources within country ...... ATX shows nothing in line 1a... why? Last year, it did.. when I try to cross-reference, it states ' no supporting form'... Foreign tax credit = $520 which shows in part II This results in no credit flowing through to 1040.. am I missing something? Is this correct? Quote
miatax Posted April 3, 2009 Author Report Posted April 3, 2009 The prior year there was schedule D Cap Gain.. This past year, there was only 1099 Div income which shows Cap Gain Dist of $1,600 total Quote
miatax Posted April 3, 2009 Author Report Posted April 3, 2009 Form 1116 - The problem is box 7 in ATX. ATX automatically filled information in box 7 in. This year it i snot doing it. Please help.. I don't know if this is a foreign tax credit that can be taken into page 2 of the 1040 or if this is atx that is not including the correct information. Quote
Slippery Pencil Posted April 4, 2009 Report Posted April 4, 2009 Not sure what you mean by box 7. If this is a joint return, just delete the 1116 since the tax is under $600. It should then flow from the 1099-DIV input straight to 1040 line 47. The problem may be the category. Above the form is a drop down box to select the category. Select passive and see if that works. If not, curse ATX because their 1116 is a freakin mess. I've made suggestions every year but they don't improve it. Quote
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