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Deductions & credits
I do not have any investment interest expense (4b1a) .
I have a 1099-DIV from a US brokerage company ( E-trade) which shows a dollar amount (e,g 500 $) as Foreign tax paid.
Apart from this 1099-DIV , I have interest income (e,g 500 $) from Saving Bank accounts in foreign country . For this the TT is asking me to calculate Adjusted basis of investment assets generating foreign income (4b1b)
and Adjusted basis of total investment assets (4b1c) ?
Can you help me how can I calculate that ?
‎April 12, 2021
4:41 PM