Total Basis of Total Investment Income 1116 - Foreign Tax Credit

Tracer-x — Tue, 10 Feb 2026 16:53:47 GMT

TT indicates an error, and that on the worksheet for Form 1116, I need to enter the Basis of Total Investment Income. I have no idea what I need to do. I can't just enter $0. I didn’t have to do it last year- even though I was over the $300. The foreign taxes are from simple Vanguard Mutual Funds that generated the foreign taxes. But I don't know where to find the number TT wants. Thank you sincerely for any assistance.

Re: Total Basis of Total Investment Income 1116 - Foreign Tax Credit

DaveF1006 — Tue, 10 Feb 2026 18:41:36 GMT

Enter "1" for the Basis of Total Investment Income. Entering "1" for total assets prevents a "divide by zero" error while ensuring 0% of the interest is allocated to your foreign credit.

topic Total Basis of Total Investment Income 1116 - Foreign Tax Credit in Deductions & credits

Total Basis of Total Investment Income 1116 - Foreign Tax Credit

Re: Total Basis of Total Investment Income 1116 - Foreign Tax Credit