1041-US: Foreign taxes paid as a deduction or credit (FAQ)

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.

Characters left:

MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.


If the estate or trust paid foreign taxes, can the estate or trust take the amount as a deduction or claim the amount as a credit?


Yes. Do one of the following to take the foreign tax as a deduction or to claim the tax as a credit.

The foreign income and tax information entered in these statement dialogs transfers automatically to Screen 1116. Do not enter this information again on Screen 1116. If the type of foreign income is not interest and/or dividends or you choose not to use the statement dialogs on Screen Income, enter the required information on Screen 1116 in the Credits folder.

If the type of foreign income is from a pass-through activity, enter the information on Screen 1116 in the K1 1065 & 1120S or K1 1041 folder.

Related topic: 1041-US: Form 1116 FAQs

Share This