david3
Level 8
12-07-2019
04:27 AM
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TP received Canadian pension income and paid taxes on the amounts withdrawn. Per the instructions, I have entered the pension income on the Canada RRP wks and those amounts show at the bottom of the 1099-R summary.
I entered the foreign taxes paid on the FTC computation worksheet and according to the instructions I haven't made any entries directly on F 1116. Per the instructions box g Lump-sum distribution should be checked for retirement income. I entered the income and the foreign taxes paid on the worksheet. There are prior year FT carryovers related to wages (general category). I entered the carryover amounts per year and the carryover amount appears in Part II - FTC computation. However, no FTC is calculated. I have re-read the instructions and checked all over the worksheet to see if I need to check a box or enter an amount but I don't see anything I missed.
Can anyone tell me what I need to do in order to have the program calculate a FTC?
Thanks.
I entered the foreign taxes paid on the FTC computation worksheet and according to the instructions I haven't made any entries directly on F 1116. Per the instructions box g Lump-sum distribution should be checked for retirement income. I entered the income and the foreign taxes paid on the worksheet. There are prior year FT carryovers related to wages (general category). I entered the carryover amounts per year and the carryover amount appears in Part II - FTC computation. However, no FTC is calculated. I have re-read the instructions and checked all over the worksheet to see if I need to check a box or enter an amount but I don't see anything I missed.
Can anyone tell me what I need to do in order to have the program calculate a FTC?
Thanks.
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