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Enter foreign interest, dividends, and taxes reported on Schedule K-1

Follow these steps to enter passthrough foreign interest, dividends, and taxes reported on Schedule K-1.
  1. Go to the 1116 screen in the K1 1065, 1120S folder.
  2. Enter a description.
  3. In the Form 1116 - General Information section, select a
    Category of income
    , enter a
    Description of income for line 1a
    , and any other necessary information.
  4. Select the
    Country code/name
     in the Part I - Foreign Income/Loss section.
  5. Enter the
    Foreign gross income
     and any other necessary information.
  6. In the Parts II and III - Taxes Paid or Accrued and Adjustments section, enter the
    Date foreign taxes paid or accrued
     and the amount paid or accrued.
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