- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Form 1116-Foreign Tax Credit error “Adjusted Basis of Total investment assets” and the “Adjusted Basis of investment assets generating foreign income". Don't have.
My 1099 doesn't provide the requested basis amounts. Do I really need to get the total basis for each fund with foreign assets, and then multiply the percent of foreign assets in that fund, and then total all those to get this number? If this is a required input, why isn't it already calculated on the 1099? I'm told other tax programs don't ask for this information.
Topics:
June 3, 2019
10:43 AM