Linked all investment dividends to 1116-- $5127 with foreign taxes paid $769 - 15 %
According to the IRS--
- Generally, if the foreign sourced income was taxed at the 15% rate, then you must multiply that foreign sourced income by 0.4054 and include only that amount in your foreign source income on Form 1116, line 1a
So, I was expecting to adjust the amount -->$2078- ( 5,127 x 0.4054)
But the form 1116 shows $5127 on line 1. Or ZERO when the box on "Foreign Qualified Dividends and/or Capital Gains Adjustment Smart Worksheet -- Check the box to make adjustments for foreign qualified dividends and/or capital gains for line 1" is checked. I can only see this using forms view.
TT did not click on the box. I had to manually do it.
Am I missing something?
Using Turbo Tax Deluxe
