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ProSeries is taking my foreign tax paid as both a credit and a deduction on Schedule A. Anybody know how to remedy this??

ladycpa1971
Level 1
 
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IRonMaN
Level 15

Sounds like you might have entered the credit in two different places. 

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)

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IRonMaN
Level 15

Sounds like you might have entered the credit in two different places. 

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)

View solution in original post

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ladycpa1971
Level 1
No I've not - I used the Form 1116 data entry pages for all of the foreign taxes and foreign income info generated on a K-1.  23 different countries reported in columns A, B and C of 8 Form 1116 worksheets.
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Just-Lisa-Now-
Level 15
Level 15
Doesn't the K-1 worksheet automatically transfer it one place or the other?  or did you skip it as a K-1 entry and just enter it manually?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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ladycpa1971
Level 1
thank you for replying!  I figured out the issue.  I entered the totals info from K-1 boxes 14 B, C and L.  I then had to use the Form 1116 entry due to the multitude of countries I had to report.  It was the entry on the K-1 box L that caused the error.  Thanks!
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IRonMaN
Level 15
So you entered it in two different places.  Thank god for that not helpful button!
ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
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mojocpa
Level 7
Yep that not helpful button is really a positive item. GIGO?
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itonewbie
Level 15
Just got to :heartbeat: that not helpful :radio_button::heartbeat: :radio_button:
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Still an AllStar
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