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Deductions & credits
@gb_1435 need a little bit more information:
(a) this $3000 foreign tax credit is which year(s) --- this carried forward or what ?
(b) what is your world income and foreign income for 2021?
(c) what is the foreign taxes paid for 2021 ?
(d) if the foreign taxes paid in 2021 is within the safe harbor limit why did you choose form 1116 (if )?
(e) foreign taxes paid to which country?
(f) if the foreign income was from stock sales was this long term or short term and did you also have US asset sales resulting in gains ( that can offset foreign gains )
I look forward to getting your answers and I will circle back
pk
March 27, 2022
9:08 PM