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Foreign Tax Credit - Simple Situation

bporter
Level 3

If a partnership receives a Form 1099B from bank / brokerage firm, and it has foreign source dividends and foreign tax paid .... is there an example of how to input that information into the Proseries Tax Software. The Schedule K-3 has such complexity that it is overwhelming, and I see no help from Proseries to handle the simple, most common situation.

 

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CEP
Level 2

I figured it out myself; the credit is entered on page 4 of the 1065, using the smart worksheet just above line 21.

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2 Comments 2
CEP
Level 2

On hold with an agent at Proseries right now who is struggling to answer this question and informs me there is no way to escalate my question.  This is ridiculous.

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CEP
Level 2

I figured it out myself; the credit is entered on page 4 of the 1065, using the smart worksheet just above line 21.