Get your taxes done using TurboTax

Yes, let me provide you with a detailed step by step on how to report this. I am using the step by step mention rather than having you enter this on the forms.

1. First report all your income in the 1099 DIV section, 1099-INT section, investment income from the sales of stock, rental income in the rental income section of Turbo Tax, etc.
2. Even if you didn't receive a 1099 INT, 1099 DIV, Schedule B or any paperwork involving your rental house, still enter information in these sections anyway. 
3. In the 1099 INT and 1099 DIV sections, check the Box that says my Form has information in more than Box 1. In Box 6 of the 1099 INT is where you will report the foreign tax paid or accrued.  in the 1099 DIV, it is in Box 7.
4. Now since there was previous mentions about recording this on Form 1116, it sounds like you are using the software program. Correct me if I am wrong if this isn't the case.
5. Now let's work on the Foreign Tax Credit since you have already entered the income.
6. Go to wages and income>deductions and credits>estimates and other taxes paid>foreign taxes. You may have visited this section many time but here is where you should be. 
7. First screen will recognize that you entered information for the 1099 DIV and 1099 INT. Continue through until:
8. You reach a screen that asks if you wish to take a deduction or the credit. You may click on the link that will help you decide which is the better option for you.
9. Next will be a screen that will address your foreign interest reported on the 1099-INT and 1099 DIV.  We will handle the rental real estate and profit on the sales of shares later.
10. First question asks where you receive your interest income from. Select India.
11. Finish the section out. It will then ask you how much of the $xxxx.xx came from India. In this case you will report the entire amount if this is true. Continue through this part of the interview until done. The program may inform you you additional interest to report but ignore this if the only interest you are reporting is your foreign interest.
12. Do the same for the Dividend income, which will appear next.
13. During this process, the program will inform you you may have an AMT requirement because of your foreign interest and dividend reporting. Here you may select you wish to take the simplified limited election. Be cautious though, if you made an election in a previous year, here will be a screen asking you what election you made in a previous year. Once you make an election for simplified or other, you will required to use the same election to all later tax years.
14. Next screen will allow you to claim the simplified limited election calculation. If this is your first year in reporting foreign interest and dividends, it is recommended to take this election.
15. Next screen will ask if your foreign taxes was paid with interest and dividends only, say no.
16. Next the program informs you that you need to complete a foreign tax credit worksheet for the remaining income.
17. Next it asks what the income type is, indicate passive income.
18. Next asks Country summary. We will still stay in India if this is the case.
19. Here it asks for Gross income sources for India, here you will make entries for your Rental income, and the capital gains that you earned from the sales of your shares. Remember this is income you have already reported in the rental and investment sections.
20. Next screen is where you would report any expenses incurred including rental expenses or investment expenses. Do not enter your foreign accrued taxes.
21. Next will ask if you have foreign losses.  If so, you will record that amount here. 
22. Next question will ask if your total taxes paid is from 1099 INT or 1099 DIV.  Here you will say no. Then in the same screen is where you will indicate that $XXXX was foreign taxes on rents and royalties. Then you will report the tax that was levied on your sale of stock shares.
23. Finish out the rest of the section and if you have additional questions, please reach out to us. Make sure that you mark that these taxes are accrued if yo haven't paid them yet.
24. In case if you are unable to claim all your foreign taxes paid or accrued, there my be a foreign tax carryover. If there is, Form 1116, Schedule B will not be available until 03/31.
25. Again reach out if you have additional questions. Don't attempt to enter this information strictly on the forms unless you really savvy about taxes. If you have been trying to enter this on the form, delete the form and start over using the steps I have provided.