TRnewbie
Level 2
09-21-2020
08:06 PM
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I have qualified foreign source dividends, but because I qualified for the "adjustment exception", Lacerte didn't make any adjustment to Foreign Source Income or total income in calculating the FTC limitation. (It tells me that in the Diagnostics.) However, I think I get a better answer (I get to use more credit) if I make the adjustment. Most of the dividends are coming from K-1s; I don't see anywhere on the K-1 input screens (or the 1099-DIVs) to force the adjustment. I also can't find any box to check to make/not make the election. Do I have to make this adjustment manually in Lacerte?
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