I have $560 of foreign taxes paid on two 1099Divs. I went through the foreign taxes paid section under Deductions and Credits. It asked if this was the only foreign taxes and if I had no foreign tax paid carryovers. I checked both boxes as directed. The next screen told me I did not need to file Form 1116 because I was within the MFJ exemption. All seemed in order until I hit continue and it then told me my foreign tax credit was $199, not the $560.
The Schedule 3, line 1 showed the $199. I went to look at forms and no Form 1116 (Copy1) shows. Therefore I cannot see any calculation of why my credit went from $560 to $199. This section also didn't ask me for the amount of foreign dividends on my 1099Divs. I am at a loss on this at this point. Does anyone have this issue or any suggestions?
