itonewbie
Level 15
12-16-2019
12:52 PM
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Yes, you do. The input is on Credits > Foreign Tax Credit (1116) > Foreign Tax Credit (1116) and under the section for Other Foreign Source Income.
You should also take note that PTO does not compute adjustments of any kind as required such as ODL, SSL, OFL, and capital gain tax rate differential. If any of these is required, you will need to calculate it manually and enter that on F.1116.
If you have any expenses that are not ratably allocable, you will also need to enter those direct expenses on your own as PTO would have no way of knowing otherwise.
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Still an AllStar
Still an AllStar