Claim a deduction for foreign taxes

You have the following options for claiming a deduction for foreign taxes.

Option 1

  1. Go to the
    Deduct
    screen in the
    Deductions
    folder.
  2. Enter the amount of foreign taxes paid in the statement window for the
    Taxes, not entered elsewhere
    field.

Option 2

  1. Go to the
    Income
    screen in the
    Income
    folder.
  2. Enter the amount of foreign taxes paid in the statement window for the
    Interest income
    field or in the statement window for the
    Dividends
    field.
  3. Go to the
    OthCr
    screen in the
    Credits
    folder.
  4. Enter
    X
    in the
    Report all foreign tax as a deduction
    checkbox in the Form 1116 - Foreign Tax Credits section.
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