1. After question 7 Reporting Foreign Taxes Paid when we continue
it asks - First Year You are Eligible? should I say yes if this is the first time I am eligible for probable foreign tax credit? and on next page should I select - elect the simplified method?
2. On foreign tax credit section it asks - Other Deductions Not Definitely Related ..can you give some examples of not definitely related deduction when you earn capital gains and/or interest from India?
3. also - it ask for Reduction in Foreign Taxes - in what situations we can claim reduction in taxes?
4. Finally when I am about to finish foreign tax credit questionnaire - it shows I have Excess Foreign Tax Credit but it does show how many $ of excess credit I have ...I believe it is because I have entered income as other income and not on 1099 ..so how do I fix this issue?
