pk
Level 15
Level 15

Get your taxes done using TurboTax

@VickiN , first sorry for delayed response; second normally at this point I would have suggested discussion through PM but because  of usefulness for a few, I will leave this here ( there may not be many but just in case );

1. I don't exactly where you are in the return preparation  and cannot comment on the blank box that you see.  Part of the problem may be because I was not observant enough as I scrolled through the screens  ( because I knew where I was trying to get to.

2. I created a simulation with wages of US$120,000, Capital gain of US$50,000  ( total sales $100,000 with a basis of $50,000, Long term capital gain );   Then I went to deductions and credits  and declared a foreign taxes of $21,000.  This after a few screens opened up entries for the form 1116 ( Copy 1).  Once I declared the foreign source income, passive  of $50,000 and confirmed the taxes paid of $21,000, it told me that this is HTKO situation; after a few more screens  the 1116 entry was complete ,; went to the forms mode to see that all it had done was to prepare ONE 1116 under passive category, entered the $21,000 and then under HTKO created a negative $21000. 

3. Given the above and no help anywhere else, I went back to Deduction and credits and asked to declare another foreign taxes paid --- this time instead of the country DK I entered HTKO  ( I think somewhere in the help screens I saw that this must be done).  This now opened up another 1116, select general category and enter the $21,000 taxes  and the $50,000 foreign income.  This solved all the issues and the form 1040 via schedule-3 issued the proper credit for the  year.

 

Thus it is clearly not quite self-evident what to do -- you have read  the help screens  and look at the forms  ( and have an idea what to expect) to get the results .

 

See if you can make this work for you.    If you need more specific help perhaps you should consider PM  ( because we may be getting into personally identifiable  information and this is public area.

 

Stay safe