Tax software for calculating foreign tax credits on Form 1116

jake2005 · #1 Apr 9, 2007, 11:40 AM

Hi there.
I wonder if anyone can advise me which is the best software for filling out Form 1116? I am using Turbotax 'Home and Business' and the IRS instructions together to fill mine out, but the IRS instructions are SO complicated and the Turbotax software assumes that you know a lot about filling out this form.
Does anyone know of an 'easy to understand' online version of this form, which will calculate my foreign tax credits if I input the information? or else a simplified version of the IRS instructions - for individuals who are not tax experts!?
Thank you in advance for your help.

The Texas Tax Expert · Apr 9, 2007, 12:12 PM

Quote:

Originally Posted by jake2005

Hi there.
I wonder if anyone can advise me which is the best software for filling out Form 1116? I am using Turbotax 'Home and Business' and the IRS instructions together to fill mine out, but the IRS instructions are SO complicated and the Turbotax software assumes that you know a lot about filling out this form.
Does anyone know of an 'easy to understand' online version of this form, which will calculate my foreign tax credits if I input the information? or else a simplified version of the IRS instructions - for individuals who are not tax experts!?
Thank you in advance for your help.

Both Turbo Tax and Tax Cut rely on the user knowing something about this. The software does do the basics but you need to use additional effort and research for the FTC.

jake2005 · Apr 11, 2007, 11:15 AM

Texas Tax Expert - Thank you for your help. I'll try Tax Cut to see if it's any easier.

jake2005 · Apr 16, 2007, 05:45 PM

Thank you Atlanta TaxExpert - I'll give it a go!

mehnazq · Oct 30, 2007, 10:28 AM

Quote:

Originally Posted by jake2005

Hi there.
I wonder if anyone can advise me which is the best software for filling out Form 1116? I am using Turbotax 'Home and Business' and the IRS instructions together to fill mine out, but the IRS instructions are SO complicated and the Turbotax software assumes that you know a lot about filling out this form.
Does anyone know of an 'easy to understand' online version of this form, which will calculate my foreign tax credits if I input the information? or else a simplified version of the IRS instructions - for individuals who are not tax experts!?
Thank you in advance for your help.

you can email me at [email address]

and I will explain you.



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