Guys, here is what I see with the new update as of today:
Here is a simple example:
$20 in Investment Interest Expense
45% of my taxable investment assets generate Foreign Income.
F1116 calculates that $9 of Investment expense is attributable to Foreign Income
My expectation is that my FTC would be reduced by $9. It is not! It is reduced by the full $20 of Investment Interest expense.
Does not make sense to me. What am I missing?
