Data from 1099-DIV:
Qualified Dividends - 29,821
Foreign Taxes Paid - 766
Foreign Income - 5,313
Qualified Portion of Foreign Income - 4,994
Form 1040 Line 15 - 41,168
TurboTax defaults Line 18 of Form 1116 to 41,168 but based on IRS instructions for the form, the value for line 18 can be calculated using a worksheet because I have qualified dividends. If I follow the worksheet instructions, the value should be 41,168 - 29,821 = 11,347 which yields the maximum foreign tax credit.
Kindly explain why TurboTax does not use the worksheet calculation, or if it can be triggered, or if the default value may be replaced with a manually calculated value, and how.
Thank you for any responses. I appreciate your help!
