I wish there was a way to post key responses at the top of this thread. The same questions are being asked, and answered, over and over again. KKAA, your first two questions are already answered. The third has been discussed if not answered: the biggest concern would be any impact it has on the size of your refund or payment. The fourth: no, there is not a simple hand calculation for this section; it is fairly complex. You would have to read the IRS Form 1116 and 1116 Schedule B instructions.
