Hope, I do see an $85 credit, but I am so confused as to why it is not much larger, since I had $667 of foreign taxes paid. Just because I am $67 over the joint limit of $600, the actual credit is only a fraction of the $667??
Also, Form 1116 from TT is confusing: the 1099-DIVs from Fidelity and Vanguard show $667 combined for "Foreign tax paid," from line 7 of the two 2022 1099-DIVs. BUT, IRS Form 1116, line 1a says I have $667 in "Gross income from within country shown above." The country is "RIC."
So, the 1099-DIVs says the $667 is for foreign taxes paid, but Form 1116 say $667 is the foreign income. That does not make sense to me, given my limited understanding!
I sure hope you can help me understand why this is the case.
Thank you!!!
