Turbotax does not calculate Form 1116: "State Income Tax Allocation Smart Workbook" entry for the percentage of State Income Tax definitely related to foreign source income.
OR
The dollar allocation of state income related to foreign source income.
Turbotax Form 1116 Line 4 (US Source State Income Tax) calculations is in reality calculates Schdl. A (Form 1040) Line 5E (SALT cap = 40,000) divided by Line 5d of Schdl. A
From internet the formula for Foreign Income Allocation of State Income Tax is = (Foreign Income / State AGI)*(Total Sate Income tax)
Need to understand if the "Total Sate Income tax" in the above formula is the value from Form 1116 Line 4 OR is it the value from California Form 540 Line 64 (Total California State Income Tax)
Thank you.
