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Tax law changes
In TT 2023, when I enter the whole income as LT Cap Gains in the screen asking for "Let us know how much of the income you reported for the following country was qualified dividends or long term capital gain income", TT increases the taxes owed. Why is that? Your last response suggests there should be no impact.
Also why would income from LT Cap Gains decrease the amount/percentage of foreign tax credit that is allowed? (which is what is happening because the taxes owed goes up from before this info was entered on that page)
March 31, 2024
2:27 PM