Its difficult to see if Turbotax is treating this correctly or if I have entered something incorrectly.
My actual foreign taxes from the 1099 are $675. The allowed credit is 268, with 407 suspended for carryback or carryforward, due to the form 1116 calculation. I don't see a way in Turbotax to opt out of the 1116 calculation.
If I test the program with a foreign tax credit of $600 instead of $675, all of the $600 is allowed.
How can this make sense?? Is TT handling this correctly or have a made some input error?
What if I just entered a lower claim (600 instead of 675)? Would it be a flag in an audit program? Would this be ok?
