:

1041 and 1116

I am using a tax program to do a 1041 trust tax return. The trust has some tax exempt interest of 66 ordinary dividends of 3177 qualified dividends of 2759 section 199a dividends of 59 foreign tax paid of 106 The program computes a tax owned of 93. For some reason, none of the foreign tax paid is not being used, but is being carried forward. Any idea why?
--
Fred J. Tydeman        Tydeman Consulting
tydeman@tybor.com      Testing, numerics, programming
 Click to see the full signature
Reply to
Fred J. Tydeman
I completed Form 1116 as best as I could. A 1041 1116 is a lot harder to do than a 1040 1116.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used,   >>
 Click to see the full signature
Reply to
Fred J. Tydeman
Finally printed the 1116 (instead of just the worksheets). It appears that the program has a design flaw in that it carries over the foreign tax paid, but not the qualified dividends, to 1116 from the mutual fund information.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used,   >>
 Click to see the full signature
Reply to
Fred J. Tydeman

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.