The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Should I file this?||Date: 8/6/2009 12:52 PM|
|Author: fleg9bo||Number: 106676 of 125423|
There is some misunderstanding of what I posted.
I had foreign tax withheld from dividends. This was reported on 1099s.
I filled out (or had TurboTax do it) Form 1116 to see if I got a foreign tax credit. The form says I get zero foreign tax credit. I will check the worksheet for Form 1116 to see if I can carry forward any unclaimed credit.
Since I get zero foreign tax credit, should I even bother to include Form 1116 with my return?
That was the question.
As an aside, I mentioned that I owe no tax for 08 because I anticipated that someone would suggest I take the foreign tax witheld as a deduction. Whether I take it or not, makes no difference.
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