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- Re: Foreign tax credit in USD from a K-1 entered to Form 1116 wants a currency conversion. Why?
Foreign tax credit in USD from a K-1 entered to Form 1116 wants a currency conversion. Why?
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prkwork
Level 4
05-30-2023
08:39 PM
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A partnership K-1 reports (line 21) foreign taxes paid. Entering that to Form 1116 screen in the USD area as "Other Foreign Taxes" generates a fatal error, requiring a conversion rate. Why? Should the entry go elsewhere?
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prkwork
Level 4
05-31-2023
02:19 PM
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The Help Desk called this a bug. Does anyone disagree and have a better answer?
prkwork
Level 4
05-31-2023
02:20 PM
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Moreover, entering a conversion rate (1.0000) does not resolve the fatal error.
