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Foreign Tax ($228) paid by trust

Greta
Level 9

Is there a way to credit the trust with $228 directly (since it's under $300) the way an individual does? Or is Form 1116 mandatory?

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3 Comments 3
Greta
Level 9

Continued question: Is there a way to credit the $228 foreign tax to the beneficiary via a K-1. She is getting the dividends after all.

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msmith7305
Level 7

It is mandatory

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Greta
Level 9

I'm unable to manage Form 1116. Foreign tax is just on dividends. Line 3b that software entered the beneficiary's K-1 portion glows red. Line 8 I entered date, tax on dividends in US currency, nothing happened, zero is result.

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