@girigiri , i suspect what you are talking about is using "adjustment" as a means to enter foreign taxes paid and what I was quoting how it is actually entered on form 1116. I realize that you do not have 1099s for the interest nor for the dividend or capital gain.
You need to enter the amounts of foreign earnings and the foreign taxes paid just as if you had 1099s. ( i.e. 1099-div , 1099-Int and 1099-B including all applicable boxes. Some of these may give you trouble because there is no EIN of the payor --- you can always use some dummy ( if forced to use one ) EIN like 12-2345678--- this is obviously a dummy one. IRS only looks for a match with information returns ( 1099s from domestic entities ).
Once you have done this things will flow properly.
The reason I mentioned the safe harbor tax credit ( US$ 300 per filer i.e. US$ 300 for a single filer and US$ 600 for MFJ ). This means that claims for foreign taxes paid up to and including this safe harbor amount is foreign tax credit to you ( no need to use form 1116 -- which limits the amount of Foreign tax credit ). Sometimes , say ,for an MFJ whom have paid US$700 as foreign ta, it may be more beneficial to claim US$ 600 as foreign taxes paid -- because you will get all US$ 600 in current year while a form 1116 while recognizing the US$ 700 as credit will allow only US$400 as allowable for current year, the rest being banked for use later
Does this make sense ?
Is there more I can do for you ?
Namaste ji
pk
