Foreign Tax paid by mutual fund

[jasdlm]

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.

[rich]

On 1099 Div worksheet in box 7a Droplist click on unknown country,its quite hidden in country list, hopefully it works.

Rich

[kcjenkins]

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.

[Lynn EA USTCP in Louisiana]

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

[TAXBILLY]

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

[kcjenkins]

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.