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Deductions & credits
Your reply seems logical but I am still unclear on what data input TurboTax is requesting as I try and clear the Smartcheck error. The Smartcheck error that takes me to Section 4b(1) b-c of the Form 1116 TurboTax worksheet - and is asking for the "adjusted basis of the investment assets generating the foreign income" (b) and "adjusted basis of the total investment assets" (c) - so as to calculate the ratio related to my investment interest expense carry-forward balance. I do not know where to get these balances (not reported on the 1099's. I could get these from statements for my interest and dividend income brokerage and other accounts as of Dec 31, 2019.... is that what I need to do?
‎April 9, 2020
1:06 PM