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user17736911749

Level 2

Solved

Form 1116

6 replies
109 views

Form 1116 line 18 not calculating correctly, failing to minus 1040 line 14 as it indicated on the form.

rogge1722Answer

Level 10

In my case, the line 18 is bigger than my taxable income on form 1040, line 15. It is because line 18 did not minus schedule 1-A, line 37 (enhanced deduction for seniors).

For line 18 of form 1116, the formula from the 1040 is (line 11b - line 14) + (schedule 1-A, line 37).

Level 10

Line 18 is subject to adjustments. The details are described in the form 1116 instructions on p.23.

user17736911749Author

Level 2

Below is an instruction for form 1116 line 18 on IRS website, however turbo tax failing to adjust qualified deductions and not matching form 1040 line 15

Individuals: Enter on line 18 the sum of (i) Form 1040,
1040-SR, or 1040-NR, line 11b, minus Form 1040, 1040-SR,
or 1040-NR, line 14; and (ii) Schedule 1-A (Form 1040),
line 37.

user17744790043

Level 2

Are you able to resolve the problem?