@DaveF1006
Thank you very much for replying to my question.
However, maybe I wasn’t clear about the recipient of the dividends and capital gains as well as the payor of the foreign taxes.
My question is about filing a trust return (Form 1041) and the trust claiming a credit for foreign taxes that the trust has paid.
In the case of a trust return, there is no filing status such as: single, married, etc. Thus, the rules for the Adjustment Exception that you cited seem suited to an individual’s return (Form 1040), not a trust’s return (Form 1041).
What am I misunderstanding about using rules based on an individual’s filing status to compute the Adjustment Exception for a trust?
Thank you for clarifying this for me; sorry if I’m being a bit dense.
