Like many others I have a high, unexplained number populated on my Form 1116 Line 3e ("Gross Income from All Sources"). Per the second link, I checked the "data source" for that line, and tabulated the values for every single line item listed therein. Needless to say, it doesn't match up. It is unfortunate that Turbotax itself does not give a detailed breakdown, but my recourse is to enter an adjustment to the original amount in the "Gross Income from All Sources Worksheet" to arrive at a value that I think is correct.
My question is: does the gross income include net capital gain/loss, or capital gain only? The "data source" line item states "All gains reported on Schedule D minus Schedule D, line 11, Subtotal Line A(Form 4797, Gain from Part I)". Does "all gains on Sch D" mean gains only, or gains net of losses? Only if it is "gains only" do I get a figure that is at least in the ballpark of what TT has originally reported in Line 3e (although even that is short of TT's figure).
Edit: I discovered where the original figure comes from. If I add up every single gain-only number (leaving out losses) from Form 8949, Sales and Other Dispositions of Capital Assets and add Sch D Line 13 (Cap gain distributions), then I get the exact number that TT originally populated on F1116 Line 3e. I suppose my original question is still valid, is it correct to include only gains?
