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Deductions & credits
Don't understand.
Let's say I fill worksheet A. and I don't qualify for the adjustment exception.
Sometimes the instructions tells me 'include the loss on line 5 of the Form 1116'. I understand I have to introduce this number when Turbo asks me for 'Foreign losses'
Sometimes the instructions tells me ' include that positive amount on line 1a of the Form 1116'. Where do I introduce that quantity? If I add it to the section 'Foreign qualified dividends and lt capital gains', then line1a gets this quantity added multiplied by 0.4054 (this multiplication is not instructed in the instructions of Worksheet A)
If you can provide me with an example where capital distribution has foreign taxes, it would be great for my understanding. All the funds/ETF I have only mention taxes on dividends on their tax summaries. If you don't know any, it's fine, I understand it's probably a rare event.