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1041 form 1116

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Level 1

I have input mutual fund dividends in a 1041. They include foreign tax.  I have input the foreign tax credit in form 11116 below the dividends.  The form 1116 is not being produced.  Any idea of what I am doing wrong?

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6 Replies 6
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Level 15

Edited for 1041

Screen 36 > Select choices for the first two items, e.g. OC (since many mutual funds to not list well) and Passive Category Income

In Credit section, click Gen.Info/Elections > Resident of (probably United States) and if appropriate, enter 1 to elect to not waste paper on the 1116 form.

Screen 16 > do the entries you mention and Select 1 for the Form 1116 name or number (O) in the Foreign Tax Credit Section


ex-AllStar
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Level 1

Are your screen numbers referring to a 1041?

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Level 15

@Lisa_Godwin Sorry, no I answered for 1040.

I have edited the response for 1041. Hopefully it gets you where you need to be. 


ex-AllStar
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Level 1

How do you get it to flow through to the K-1?

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Level 15

Screen 43 has overrride to do Line 14 code B for each beneficiary. 


ex-AllStar
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Level 2

Check the k-1 - chances are the foreign tax is flowing through to the beneficiaries.