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Deductions & credits
It depends. If line 15 on your 1116 is overstated, you can make an adjustment on line 16 by entering the amount of the overstatement by placing a minus sign in front of it. You can do this if you are using the Turbo Tax software. Then line 17 should reflect the correct amount of the carryforward loss.
By doing this, the ratio should be different because of the different amount in box 17 assuming if the amount in Box 18 remains the same.
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March 3, 2021
5:13 PM