I made another post on similar issue - https://ttlc.intuit.com/community/taxes/discussion/for[product key removed]t-on-land-sale-in-india/0...
I already have some foreign taxes paid, automatically added when I imported 1099 from financial companies.
1099-DIV
For Land sale made in foreign countries, do we need to report income/expenses in Form 1116 and also in form 8949 capital gains. Would that be double counting?
Here was the scenario
Before starting process I had taxes due - 3138
I entered foreign tax paid of 8157 USD on foreign income 11728 (after expenses and dollar conversion adjustments).
My taxes due is now 723. I got a credit of only 2415 USD even though foreign tax paid is 8157 USD. @DaveF1006
