HI Dave
Thank you very much, I followed the instructions I think that I getting closer, just added Wages & Income the Miscellaneous income sample 80000, i added the Foreign Tax Credit as per the instructions, and added 15000, but the result is the balance is due around 8000 did not change. These are the steps of the screens, to see what I selected wrong
- Foreign Tax Credit / Edit
- Did you pay foreign taxes in 2023 or have credits to use from a prior year? - YES
- Have you already all of your .... or schedules k-1? YES
Form 1116
- Deduction or Credit? Credit
Foreign Tax Credit Worksheet
- Choose the Income Type - General category income
- Country Canada / Edit
- Country - Canada
- Other Gross Income - Canada / no changes empty all fields
- Definitely Related Expenses - Canada / no changes empty all fields
- Foreign Losses / no changes empty all fields
Foreign Taxes Paid - Canada
- Does your total taxes paid only include taxes reported on a Form 1999-INT or Form 1099-DIV/ NO
- Foreign Taxes on Other Income / 15000
- Alternative Minimum Tax - Canada / no changes empty all fields
-Taxes Paid or Accrued / Paid
- Other Deductions Not Definitely Related / no changes empty all fields
- Investment Interest / no changes empty all fields
- Trade or Business Interest / no changes empty all fields
- Passive Interest / no changes empty all fields
- Country of Residence /USA
- Reduction in Foreign Taxes / no changes empty all fields
High Tax Kickout
You must adjust the foreign taxes paid or accrued if they relate to passive income that is treated as general category income because it is high-taxed
- Tax reclassified under high tax kickout / no changes empty all fields
- Foreign Tax Credit Carryovers/ no changes empty all fields
- Foreign Tax Credit Carryover Adjustments /NO
- AMT Foreign Tax Credit Carryovers / no changes empty all fields
- AMT Foreign Tax Credit Carryover Adjustments / NO
Gross Income Adjustment
- We calculated your gross income from all sources as zero
- Enter any adjustment / empty no changes
- Miscellaneous Items / NO
Excess Foreign Tax Credit
Your General category income tax credit exceeded your allowed credit by 15000
Result the Foreign Tax Credit is 0
THank you very much, i really appreciated your answer
