Namaste Dear Mr. Pk:
Due to other emergency issues, I had to stop working on the return and now I am continuing where I left off. I will proceed per your input and go from there.
- I noticed in the form 1116, in Part I, section 1(a) it asks to enter "Gross income". Does it mean, for example for a stock sale, do we need to enter
(Total $ Proceeds from the sale - Total $ cost / purchase price of the equity - $ Brokerage commission)
"or" do we need to enter (Total $ proceeds - Total $ cost / purchase price of the equity) and enter the
$ Brokerage commission in Section 2 "or" just Total $ proceeds from the sale.
I looked in the instruction and it does not state anything.
Namaste,
Giri
