@chag2020 . Great
However, I don't know what you mean by :
"The agent recommended to enter the net interest amount rather than reporting gross income "
If by this you mean "net" foreign interest earned ( i.e. gross interest LESS foreign taxes paid) then it is NOT Correct. You need to recognize Gross ( i.e. total interest income ) and then under deductions and credits, claim the foreign taxes paid. Also note that you can ( depending on the amount and your filing status , facts and circumstances ) use safe-harbor foreign tax credit rather than the form 1116 , with its limitations.
