I have $5058 in foreign dividends (all qualified dividends), issued from stock I own through global employer stock program based in Switzerland). No capital gains (US or abroad) at all (didn't sell anything). I paid $1770 in Swiss taxes, as reported on my 1099-DIV form. But, when going through TurboTax, Line 1a (Form 1116) shows only $2734 in gross foreign income (rather than the $5058 I inputed per the 1099-DIV). This ultimately results in a foreign income credit far less than the $1770 I paid.
I know this is not an input error, as $5058 is reflected in Line 3d (of Form 1116), "gross foreign source income."
Anyone know where the $2734 number comes from? And why it would be different than $5058? I've looked at the form for underlying 1116 (Line 1a) worksheet and doesn't seem right to me.
