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Get your taxes done using TurboTax
Mac does not open the data source.
To report gross income, you have to report all capital gains (without subtracting the capital losses). Reference: https://sftaxcounsel.com/demystifying-irs-form-1116-calculating-foreign-tax-credits/. If you had made 10 stock transactions EVEN within a single year, 8 resulted in profit and 2 resulted in a loss, we need to count only the 8 positive transactions without subtracting the 2 negative transactions. I counted this way and my gross income matched the TT calculated value. Hope this is useful to someone.
‎October 6, 2022
11:56 PM