Form 1116 isn't prepared after entering data on the 1116 screen

The application doesn't prepare Form 1116 if you've allocated 100 percent of the current-year foreign tax credit to the beneficiaries in any of the following ways:
  • On a simple trust.
  • On a final return.
  • By data entry on the
    Allocate
    screen in the
    Allocation
    folder.
  • By going to
    View
    ,
    Beneficiary Information
    , then the
    Federal
    tab.
The application only reports fiduciary amounts on Form 1116. All current-year foreign income and tax are reported on the beneficiary's Schedule K-1.
To prepare Form 1116 for a simple trust and retain the credit at the trust level, go to the
Allocate
screen in the
Allocate
folder and mark the
Final return or simple trust: Allocate credits, estate taxes, or state withholding between trust and beneficiaries
checkbox.
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