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Form 1116 and Gross Income from All Sources

I'm working on my 2022 Taxes and in TT 2022, Download for Windows, on Form 1116, there is a bordered box between 3d and 3e that is entitled "Gross Income from All Sources Smart Worksheet".  Line A in the box is labeled as "Gross income from all sources".  I queried Sources and down loaded the lengthy and complicated list of items to be included in this calculation.

 

I have detailed every item mentioned, and I cannot replicate the amount TT shows in this box.  I cannot combine any of my income amounts to get the same value.  

 

Can this Smart Worksheet be displayed with the details on how TT determined this amount?  It is significantly higher than my AGI or even my Total Income from Form 1040.  I have neither businesses nor farms.  I have no K-1, 2, or 3 forms.  Schedule 1 is blank. 

 

At this point, I don't trust the TT calculations, which is disturbing.

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2 Replies
ThomasM125
Expert Alumni

Form 1116 and Gross Income from All Sources

No, there is no way to display a worksheet that will show what amounts are used to arrive at the total you mention (Calculated gross income from all sources.) I assume you right clicked on the amount and used the Data Source option to see the list of income items that are used. If you use the About line 3ea option, it will mention that the gross income is basically all your income from domestic and foreign sources. It also mentions that you may need to adjust this amount, which you can do by making an entry in row B, just below row A. 

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Form 1116 and Gross Income from All Sources

did you read the 1116 instructions for computing that line

gross income means the total of your
gross receipts (reduced by cost of goods sold), total capital
and ordinary gains (before subtracting any losses), and all
other income (before subtracting any deductions).

 

 

i checked mine and it works.

 

 

basically line 9 of the 1040 but if you have capital gains and losses you have to add back any loss on line 7 or subtract any gain and add just add up the gains on 8949 and schedule D (don't duplicate items from 8949)

 

 

 

 

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