I entered the foreign CG through the Stocks screen. These are gains from my India Brokerage based on Mutual Funds and PMS (sale of shares). There is no option there to indicate that it is a foreign income. So when I go to through the Foreign Taxes screen and the Foreign Tax Credit Worksheet, and go through the Passive Income Category, it takes me to the screen "Any foreign source qualified dividends or long term capital gains". There it shows Total Foreign Income for this category. That amount does not reflect my CG but only my Interest and Dividends I entered on 1099-INT and 1099-DIV. How do I ensure that the total foreign income includes my CG? Can I enter my LTCG in the Other Gross Income there? But that would be double reporting as I already reported it on the 1099-B section of Stocks? It seemed to have lowered my taxes when I enter it in both places. But at least it is reflected in the total amount and I can then enter the full CG amount in the Foreign qualified dividends and l.t. capital gains field.
The other option is to enter the CG in the 1099-DIV in box 2(a) as a CG distribution. And that screen has the option to enter the foreign tax withheld. If I enter $0.01 in the tax, TT recognizes that as foreign income and shows it in the Foreign Tax Credit worksheet.
Also, I have a foreign STCG loss. Should that be subtracted from the foreign LTCG and only the net reported?
