Hi,
I have 3 (!) issues with Form 1116, please help.
1) When calculating my total foreign income (Part I 1f), it adds the difference between the max exclusion ($105900) and the total foreign income. So it lists on line 1 a&b Country A & foreign income, Country B & foreign income all correctly, but then on line 1e for Country A adds income from Form 2555, which is exactly the difference between my total minus the max exclusion, making the overall total incorrect. Should I just change the income on 2555 to $0?
2) It's asking me to fill out Part III 12 during the review. I have no idea what to put there
3) Under foreign tax carryover, according to my 2018 return done by an accountant, I had a credit in 2016, which I used partially with the remainder having been used in 2018. So the balance for a carryover for 2019 is $0, which is showing correctly. However, when calculating the carryover for 2020 below, it doesn't calculate the negative amount for 2018 and therefore adds the balance from 2016 plus a balance for 2019, which is incorrect (since 2016 was already used). Is this a software bug and how can I adjust this?
Thank you for your help!
Oh PS, when I go to Wages & Income > Foreign Earned Income, it shows the correct total. Other than that I do not have any other wages entered, When clicking through Foreign Earned Income, I type in the Country A/B breakdowns and it gives me the wrong total for Country A in the summary. I triple checked the values I entered for Country A and B and they do sum up to the total Foreign Earned Income I've entered. Thanks
