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Business & farm
Should "Gross Income Sourced at Beneficiary Level" include amounts from Box 4a (Net Long-Term Capital Gain) and/or Box 5 (Other portfolio and nonbusiness income) on the K-1?
In the past I've only included Box 2a (Ordinary dividends) as presumably foreign gross income implies some portion of total dividends that's applicable to calculating the foreign tax credit.
March 24, 2023
9:02 AM