pk
Level 15
Level 15

Deductions & credits

@jimmyv2 , having gone through your detailed reply, I still hold my position as to the best way to handle the "Capital asset sales loss" for form 1116.   The only thing I would like to make sure is that your total foreign tax between  active and passive income is all accounted for  ( allocated )  such that there is no double counting ( positive or negative).   Other than that cautionary note I think you are doing the correct way to recognize world income, foreign taxes etc.

Is there more I can do for you ?