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Deductions & credits
With regard to filling out Form 1116,
1. Enter all your foreign income in the Wages & Income section if you haven't already
The above made me hit a brick-wall. Entering foreign income and then going into 1116 actually increased my tax liability here in the U.S. and it clearly needs to be opposite, given the significant taxes I paid.
The problem is really where to properly enter the foreign income. I have spoken with 3 TT Tax Advisors already.
March 6, 2025
11:05 AM