Deductions & credits

You have foreign earned income and foreign interest to claim credit. From your posting, you are working thru the FTC interview to process the foreign earned income. When you finish, you will have the credit posted on Copy 1 , general category income.

 

To process the Interest, you need to go to the income section and bring up a blank 1099-INT form. Insert the payer's name , the amount in box 1 and the tax withheld in box 6. TT will then post the amount on Schedule B to report the income. TT sees the amount in box 6, so when you enter the FTC interview the second time, TT will present the screens that are designed to process the interest. TT will generate Copy 2, passive category income and display the credit.

 

Copy 1, part 4 is the summary. Verify the credit for earned income is the greater amount.

 

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