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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
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- form 1116 FTC from K-1's
form 1116 FTC from K-1's
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LRN
Level 1
07-08-2020
07:36 PM
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I have two clients with Partnership's K-1 indicating in box 16 A either Various or Other and some foreign source income but no foreign taxes paid.
The program keeps rejecting the file because its looking for additional information for form 1116.
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1 Comment 1
sjrcpa
Level 15
07-08-2020
08:10 PM
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If they have no foreign tax paid, there's not going to be a credit. If that's the case, I would not enter/delete the foreign income coming from the K-1.
The more I know, the more I don't know.
