mweal
Level 2

how do I get turbotax to make a 20(12) foreign tax credit entry?

I have foreign taxes not completely recovered by the federal and provincial foreign tax credits.  Turbo tax does not seem to automatically do the calculations/entry for the 20(12) deduction for this unused balance.  How do I get turbo tax to do the 20(12) deduction/calculation?

‎April 25, 2022 10:17 PM
0
1 Reply
319 Views
Reply
TurboTaxSusan
Moderator
Moderator

Credits and deductions

You can do this in Forms mode. If you are not already in Forms mode, click the Forms icon in the blue icon bar. Then click the Forms icon again. Search for “Foreign Tax Credits Worksheet”. You can enter your 20(12) deduction on the 8th line down, in the column of the country that it applies to. 

 

To return to EasyStep Mode, click the EasyStep icon in the blue icon bar. 

‎May 13, 2022 11:09 AM
0
276 Views
Reply