davelcpa
Level 1
10-07-2022
09:41 AM
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I have a new client and received workpapers that show they have passive income overall foreign source loss carryover. Where does this get entered in Lacerete
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sjrcpa
Level 15
10-07-2022
09:46 AM
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Where do you think it's relevant?
Foreign tax credit
Qualified Business Income Deduction
Passive Loss
163(j) limits
Something else
The more I know the more I don’t know.
davelcpa
Level 1
10-07-2022
10:48 AM
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I would think Foreign tax credit
sjrcpa
Level 15
10-07-2022
02:05 PM
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Apart from this, does client have foreign income and foreign tax paid or accrued?
If no, fuggaboutit.
If yes, poke around in the 1116 credits screen for an entry place.
The more I know the more I don’t know.
davelcpa
Level 1
10-09-2022
04:24 PM
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Thanks. I think I found it at the bottom of the Deduction and Losses section of the credit screen.