Please clarify or correct, does this mean:
The income from the Foreign Tax Refund is reported on Schedule 1 line 8z.
It would also be entered on Form 1116 line 1a.
Would it then be added as a negative amount in part II line 8 of form 1116, to be applied against the carryover created when the excess taxes were paid?
If not, how is the amount entered to be applied as against the tax credit?
