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Deductions & credits
Renee,
Not entering but transferring data to Form 1116 is the problem
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Entering foreign capital gains is not an issue. It's done the same way as the domestic CG. The issue is transferring foreign CG data to Form 1116. There is no way to define a CG as a foreign CG income and the foreign tax paid for that CG. And therefore, the foreign CG amount and the foreign tax paid data are not transferred and reflected in Form 1116. There is a tortuous way of doing it where you have to add all foreign CG data and enter it as a single number. The steps are given in couple of mails in within this thread.
Thanks
March 1, 2021
10:04 PM