Hi,
Turbotax is erroring out because it needs the numbers for Lines 4b(1)b and 4b(1)c as shown in the highlighted cells of Form 1116 Computation Worksheet. The EasyStep interview process does not create these two numbers, so they have to be entered in Forms mode. I had no investment interest expenses, but I can't get rid of the zeros on Line 4b(1)a, so I must supply the following two numbers TurboTax is asking for:
Line 4b(1)b: Adjusted basis of investment assets generating foreign income
Line 4b(1)c: Adjusted basis of total investment assets
Please help me calculate these numbers.
Thanks!
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You should be able to delete the 0's in 4b(1) in FORMS mode.
In the Foreign Tax Credit interview, there is a screen asking if you' had any expenses' relating to the foreign income you're reporting.
You might want to step through the interview again to check your entry.
I tried but can do neither, unfortunately. I can't delete the 0 in Forms mode. I can't delete the 0 from the interview mode either - attaching a picture here which says the 0 comes from Schedule A but I can't delete the 0 in Schedule A either. Please help - I have tried everything I can think of!
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