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Deductions & credits
If you have a loss on 1040 Line 7, that would be why the TT number is higher. They do not consider Capital Gain Losses. You need to look at Schedule D and include all of the gains. I have a loss on Line 1a, but gains on lines 2, 8a, and 13. Add up just the gains. My 1040 line 7 is a $(3000) loss due to my large carryover loss on Schedule D on line 6.
My problem is I have taken this into account and TT still has a higher Gross Income on Form 1116, 3e. I am off $2428 and have no idea why. It doesn't change the bottom line of Form 1116, but the detail is incorrect.
Any help with this would be appreciated.
March 16, 2022
11:50 AM