Yes, box 14 code B is correct for the foreign tax credit. Two items for you to include the foreign tax credit.
1. You need to know and report/include the amount of your box 1 dividends that were taxed by the foreign countries. You should be able to get that number from your supplemental pages for the 1099-DIV.
2. I see you already started a form 1116 for passive income you will be linking to that form.
- In "Forms Mode" open the 1099DIV with the foreign taxes in box 7
- Scroll down to the box 7 section
- Double click in the "a" box and link the form 1116 you already started
- Select Column "B" in the "b" area
- Enter the amount of foreign source dividends in the box
- Enter "Various" in box 8
- Now when you open the K-1s you should see box 14 populated and Code B will be the foreign taxes
- You can check the K-1 worksheet box 14
- You can check the form 1116
@mlpinvestor
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