pk
Level 15
Level 15

Deductions & credits

@girigiri 

 

1.   May I suggest that you download and print a copy of the form 1116 from www.irs.gov -- search for   Form 1116.  I suggest this  because as you see  the screen questions from TurboTax, it will help recognizing what  it is trying to . 

2. Yes I meant that you  fill out the 1099 B information as per the screens you had shown earlier  i.e.  just as if you had sold  the asset in the USA.   Then later you have  to  go to the Deductions and Credit section to  fill out the form 1116 for  claiming Foreign Tax credit  --- the foreign gross income  may not flow directly to that form.

3.  Dividend, Interest, capital gain etc. are all passive income.

 

  For a definition  of what can be included  as passive income, please  page 6 of the instruction for form 1116 --------

2023 Instructions for Form 1116 (irs.gov)

 

Is there more I can do for you ?

Namaste ji

 

pk