turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes & Forms (2024) on Mar 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Form 1116 - Deselecting the box that adjusts foreign capital gains on Line 1a.

Looking for help as to how I can deselect the box in TT in Form 1116 that is adjusting my foreign capital gain.   My attempt to simply click the box "off" doesn't do anything.   Background:  I sold land in Canada and paid taxes to the Canadian government in 2024.  I am completing Form 1116 to claim the FTC which is around $150K USD.  I completed the Qualified Dividends and Capital Gains Tax worksheet for Form 1040 which allows my situation to use Worksheet A in determining the amount of adjustment needed to Form 1116 line 1a.  Worksheet A concludes that I do not need to make any adjustment to my capital gain on line 1a.    TT will not allow me to deselect the box that is has checked automatically which is, in turn, automatically adjusting my gain.  So, my gain is being adjusting when it shouldn't be which is significantly limiting the FTC for 2024.  Any ideas as to how to deselect this box or what other entry is causing it to auto-select?  Thank you

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question