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I have been trying to file by return the last couple days.
I have been trying to file by return the last couple days. Return is rejected to to issue with Form 1116 Foreign Income. It appears this is a problem many filers have experienced. What is the issue an… read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
3,143 satisfied customers
I am a self-employed US Citizen living and working in
Hello, I am a self-employed US Citizen living and working in France. I want to file Form 1116, the Foreign Tax Credit, but I am a little unsure on 2 things. I would like to confirm, should the amount … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
10,448 satisfied customers
Lev I asked you questions before and very satisfied with
Hi: LevI asked you questions before and very satisfied with your answer. May I have another question, pls?A couple of dual citizens file both Canadian and US tax returns as residents. On Canadian side… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,768 satisfied customers
The taxpayer has two savings accounts -- Account 1 and
The taxpayer has two savings accounts -- Account 1 and Account 2 -- in a foreign country. Account 1 has income tax withheld in the foreign country whereas Account 2 has no income tax withheld in the f… read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
2,515 satisfied customers
My wife now has rental property in a foreign country. It was
My wife now has rental property in a foreign country. It was inherited in 2016. She also has a bank account in the foreign country. What forms do I need to fill out for IRS? The property's are just un… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,768 satisfied customers
How do I report foreign source income from 1099-div, is it
how do I report foreign source income from 1099-div, is it taxable? the amount is $330. foreign tax paid is less than $50 and i reported that on the 1040 line 48 but i have no idea where to put the $3… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
23,416 satisfied customers
A person has rental income in a foreign country from a taxi.
Hi. A person has rental income in a foreign country from a taxi. Foreign taxes are paid. How is the credit taken on US return?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,768 satisfied customers
Here. I have unused foreign tax credits and I want to use
Customer: ***** ***** here. I have unused foreign tax credits and I want to use them against deferred income earned outside the US. Is this possible when I take the deferred income out? … read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,607 satisfied customers
I need help with the 1116 form. We are back in the USA after
I need help with the 1116 form. We are back in the USA after 3 years abroad. I paid an Austrian tax payment (for 2011 taxes) in 2013; my employer paid them actually and they were added to my income (a… read more
taxmanrog
taxmanrog
Master's Degree
2,203 satisfied customers
I need some help with foreign tax credit (form 1116). I
I need some help with foreign tax credit (form 1116). I own 2 houses, one in Canada (rental) and one in USA (primary residence). Canada house: Gross income: $12000 Interest: $3000 Property taxes: $150… read more
Anne
Anne
Master Tax Preparer
2,788 satisfied customers
I am filing a late 2011 return. I want to utilize a foreign
I am filing a late 2011 return. I want to utilize a foreign tax credit carryover to offset my U.S. 2011 tax. In 2011 I did not pay any foreign tax. My carryovers come from previous years when I paid f… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,607 satisfied customers
If Im filling out form 1116 for a foreign tax credit, do I
If I'm filling out form 1116 for a foreign tax credit, do I have to fill out Line 10 "Carryback or carryover (attach detailed computation)" if I already know that I'm over the limit in this tax year? … read more
Anne
Anne
Master Tax Preparer
2,788 satisfied customers
I noticed on form 1116 foreign tax credit that the Standard
I noticed on form 1116 foreign tax credit that the Standard Deduction is on line 3a. But if we're taking the standard deduction, do we still fill out line 2 (expenses related to the income on line 1a … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,768 satisfied customers
I have paid last year around 27778 towards property taxes in
I have paid last year around 27778 towards property taxes in Foreign country. I could not claim total amount and the amount carryover to this year is 27465. How can I claim this credit under 1116?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,768 satisfied customers
my again question. i was trying to fill my husband tax return
my again question. i was trying to fill my husband tax return by programes online and in all when i marked he had incomes from foreign country(365 days)-he is bonafide resident in Poland) including se… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
42,768 satisfied customers
Filling out form 1116. Need explanation for a carryover.
I am filling out form 1116 and I am unclear on how to calculate my carryover amount for line 10. Can you please explain how my last year's carryover was 126,426. Thank you… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,607 satisfied customers
I am preparing form 1116 for individual 2007 tax return and ...
I am preparing form 1116 for individual 2007 tax return and I am not sure what the difference would be for line 1A and line 3 D? I had some others questions as well when it comes to preparing this for… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
A resident citizen of the U.S. is also a citizen of ...
A resident citizen of the U.S. is also a citizen of Australia and receives rental income from property sited in Australia. Is this rental income subject to U.S. taxation?… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
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