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

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Question

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?

Answer

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

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