In reading the instructions, it seems to me there are two possibilities. The instructions ask for total of stock generating US income and then assets generating foreign source income. The likely correct answer is to figure the total of all holdings that throw off dividends and interest. This is not easy to do. It involves adding up all your mutual funds and stocks and bonds that throw off divs and interest. Second way is to just add up all your investments. This is much easier. These numbers are asked for so that the form can calculate allocation of interest expense etc. I didn't claim any of those items so I just listed total assets. Since the amount to be allocated is 0, these numbers don't change anything. That was my solution. Lets face it - Form 1116 is a mess.
