Foreign Tax credit
I’m filling out the foreign tax credit and TT requested: Investment interest (other interest expense), Interest from trade/business and passive interest expense. All of these I put $0. I do have ADR (American Depositary Receipt) Fees, does that qualify for anything? The smart check came up with the following errors.
Form 1116 Foreign tax comp wks line 4b3c Adjusted basis for total passive activity assets, 4b3b adj basis for passive activity, 4b2c adj basis for total business assets, 4b1c adj basis of tot inv asset, 4b1b adj basis of inv assets gen for income, 4b2b adj basis for bus assets gen for inc, and Part II Line 8 Date foreign taxes paid (what)?
Schwab does not supple the data. Do I ignor, put in 0? And date taxes paid (31 Dec)?
Help me Oby wan!
