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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 ?
‎April 4, 2023
1:24 PM