pk
Level 15
Level 15

Deductions & credits

@Mike414 , As I am working through your situation, a question coming up is  what is your world income --- what I see is if your  unexcluded income is less than the standard deduction then form 1116 may not work.    Could you give me that data point, please.

Also I  am in the process of confirming  whether form 1116 has sufficient knowledge to recognize  "general" category ( and therefore pull in  your unexcluded income for  FTC  or does it get confused and wait for the user to enter the amount  ( and then how does it verify that the entry is correct ).  This is especially important if you have two 1116 --one covering general category and one  using passive or Resourced by treaty.

 

I look forward to hearing from you 

 

pk