Why can't I click the Foreign Tax Credit button?

nate1021
nate1021 Member Posts: 1 Newcomer
edited March 28 in Credits/Deductions

Hello everyone,

On the Deductions and Credit Summary, it doesn't allow me to click the Foreign Tax Credit button, but that's the exact feature that I need. How I enter Foreign Tax Credit?

Answers

  • knittingfun
    knittingfun Member Posts: 10 Level 2
    edited March 28

    Here's what their FAQ says to do for the Foreign Tax Credit. Maybe if you try the top menu, and from the drop down you can select it?

    "Menu Path: Deductions/Credits > Common Deductions/Credits > Foreign Tax Credit

    Foreign income taxes paid can be taken as a credit on Form 1116 or as an Itemized Deduction on Schedule A. The Foreign Tax Credit is generally the better option since a credit will usually reduce your tax liability dollar for dollar.

    Our software only supports the foreign tax credit when the foreign income and taxes are reported on a K-1Form 1099-INT or Form 1099-DIV. If you have paid foreign income taxes on income other than what is reported on one of those forms, our software will not be able to support your situation at this time."

  • knittingfun
    knittingfun Member Posts: 10 Level 2

    This might help too: https://community.freetaxusa.com/discussion/104/foreign-earned-income-foreign-taxes-paid