Deductions & credits

Download the “2024 Instructions for Form 1116” and “Pub 514”.

 

Open the f1116 instructions and go to page 10. Under the heading “Adjustments to foreign capital gains and losses,” you will be using either worksheet A or B or the worksheet in Pub 514. The instructions will guide you to determine which worksheet to use. Whichever worksheet is used, after completion, you will have the amount to insert into f1116 line 1a. You can insert that amount into the f1116 worksheet location as indicated in your posting.