FYI: If you need to adjust qualified dividends reported on box 1b of a 1099 (e.g., because of holding period issues....or any other reason), the *adjusted* qualified dividends do not get transferred to the F1116 worksheet. Only the box 1b (unadjusted) number transfers to the foreign tax credit calculation.
This probably matters only when one does not qualify for the exclusion exception, so it won't matter to the majority of people using TT. The workaround apparently is to forget about the"adjusted qualified dividend" entry on the Form 1099-Div Worksheet, and put the adjusted number in the 1b box instead, where the program asks for the 1b amount.
I hope this helps someone.... 🙂
FYI. Maybe this will help someone, or this will be fixed some day.
