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Why is Foreign Tax withheld column p now showing up on Form 1116 Passive Category?

JoyceCope
Level 2

I have entered Foreign Currency Other foreign taxes on screen 35.1 and date paid of 1/30/2020.  In past years this has flowed to Form 1116 columns l and p.  In 2020 lacerte nothing is flowing to column p and the column l Date paid is being listed as "1099 taxes" rather than the date I entered on screen 35.1.  This issue only seems to be with Passive and not General.  Does anyone know how to get the date to show up and the amount to show up in column p for the Passive Category? (note: col t in US dollars is showing up correctly like in past years.)

Joyce Copeland

Silverthorne, CO

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4 Replies 4
George4Tacks
Level 15

Are you linking to the 1116 from interest or dividend income? 

In screen 35 you can set up multiple Credit by clicking the Add to that box. #1 for for passive, #2 for General, 3 for ... etc Then link to #1, #2, ... from the other screens.


ex-AllStar
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JoyceCope
Level 2

No I am not linking from interest or dividend because this is a Canadian RRIF and the taxable income is entered as a 1099-R but generates investment income which is Passive.  So, I am entering the income and the Foreign Tax paid directly on screen 35.1.  I have 3 entries on screen 35.1 - One Passive Various, One Passive Canada and One General Canada.  It is my Passive Canada that is no longer flowing the Foreign Tax Paid in Foreign Currency.

 

Joyce

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PhoebeRoberts
Level 9
Level 9

F1 Help on the input field says "do the currency conversion and put it in the taxes withheld in US dollars field, because Lacerte doesn't convert for you."

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JoyceCope
Level 2

Yes, I have done the conversion myself.  The Form 1116 instructions say to list the Foreign Currency in column o and the US amount in column t which is what I have done every year and both show up on the form.  In 2020 I have entered both on screen 35.1 but now lacerte is ONLY showing the US$ amount and nothing is listed in column o.

Joyce

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