Form 1116 Line 1a Question

[tjsheth69]

I sold land in India. The Long Term Capital Gain of Land sold in India is around $400,000. Paid tax for land sold at 24% in India. I also sold Indian stocks and the Long Term Capital gain is approximately $30,000. The tax paid in India for long term capital gain of stock sold at 10.4%. I have qualified dividend from Canada for $350. I do not have any foreign or US losses. Turbotax shows the above passive foreign income on Line 1a of Form 1116 without any adjustment. My tax situation does not allow exception for capital gain amount adjustment.  Form1116 and Publication 514 instructions, they both say adjustment to be made before entering on Line 1a. Is there something I am doing wrong that makes tax return shows without any adjustment? Please answer

[rogge1722]

Open the f1116 instructions and go to page 10. Under the heading “Adjustments to foreign capital gains and losses,” you will be using either worksheet A or B or the worksheet in Pub 514. The instructions will guide you to determine which worksheet to use. Whichever worksheet is used,  the adjustments if any are performed by you using the worksheet's instructions.  After completion, you will have the amount to insert into f1116 line 1a.