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Deductions & credits
Thanks for the quick reply, @ThomasM125. You may be on to something!
Due to low income, I have no tax on line 16 of my 1040. Line 17 shows $164 for excess advance premium tax credit (APTC) repayment (Schedule 2, line 2). Is that why my foreign tax credit is maxed out at $164? I tried to artificially inflate (via override) the $164 amount on line 17 to see if that provided an equal increase in the foreign tax credit , but no override possible.
(Note that I'm using a desktop version of TT, so I can see all the forms at will.)
ETA: I just added a fake W-2 to adjust the income and I saw that it increased my APTC amount and therefore my foreign tax credit. Resolved. Thanks again!
‎February 23, 2023
3:53 PM