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Level 4
December 6, 2019
Solved

I know that any foreign tax credit over $600 requires Form 1116, but missed it on two returns. ProSeries Basic did not flag this. Is there a setting for this warning?

  • December 6, 2019
  • 3 replies
  • 31 views
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Best answer by IRonMaN

Evidently not.  Since the software didn't generate the form, how are you entering the foreign taxes into the software?

3 replies

IRonMaN
IRonMaNAnswer
Level 15
December 6, 2019

Evidently not.  Since the software didn't generate the form, how are you entering the foreign taxes into the software?

Slava Ukraini!
timmurrayAuthor
Level 4
December 6, 2019
For 2017, I'm entering the foreign tax credit total directly on Form 1040, Line 48.  No flags or warnings when this amount exceeds $600.