1116

Forum|Forum|5 years ago
October 8, 2020
4 replies
46 views

For each of three registered investment accounts paying foreign taxes, Proseries created a separate 1116. Having more than one 1116 for the same type of income, passive, caused the return to be rejected for electronic filing. Is there a workaround for this? Tried to consolidate the three 1116s, but the result distorted the numbers. Thank you!

ProSeries Professional

This topic has been closed for replies.

Best answer by Accountant-Man

As long as they're the same type of income, columns A, B and C of the same 1116 should work.

PS doesn't create them, you do. Double click the box on the additional dividend worksheet, use the one F1116, and the columns.

T

Terry53029

Intuit Community Champion

If the amount is under $300 ($600 MFJ) just put total amount on schedule 3 line 1 (foreign taxes) no 1116 required

sjrcpa

Level 15

There should only be one 1116 in this circumstance. I don't use ProSeries so can't help you there.

The more I know the more I don’t know.

Accountant-ManAnswer

Level 13

As long as they're the same type of income, columns A, B and C of the same 1116 should work.

PS doesn't create them, you do. Double click the box on the additional dividend worksheet, use the one F1116, and the columns.

** I am "Elevating with Intention!"

V

vekesqAuthor

Level 2

Thank you!

After posting, I eventually re-traced my steps back to the creation of the 1116. Consolidated the passive income items onto one form, and problem solved.

I like taxes; tech, not so much.

I appreciate everyone's contribution.

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