Where can I find the Gross Income from all sources smart w/s?

[64dancer]

Thank you for that confirmation. I have found many bugs with Turbo Tax.

You said it added your Foreign Income Excluded twice. Where do you find the Foreign Income Excluded? I would like to see if the same holds true for me.

[64dancer]

How do I get to Forms Mode. I do not see an icon for it. I am using the online version of Turbo Tax.

[ThomasM125]

The Forms Mode is not available with the online TurboTax, it is only available in the desktop version.

@64dancer

[64dancer]

Can I get the desk top version without an additional cost?

[VolvoGirl]

If you paid for the online version you can ask.  They usually will put the dw in your account but some agents might not know about that.

How to contact Turbo Tax
https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-contact-turbotax/00/26991

What is the Turbo Tax phone number
https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

If you haven't paid.....

You can move your Online file to the Desktop program and continue without paying for Online or needing to reenter your info.

To continue in the desktop version see this…….

https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-th...

Download the .tax2021 file for free

How do I save my TurboTax Online return as a tax data file?

After you get the program installed the first thing to do before you open your tax return .tax file is to update the program and install any state programs you had. Then open your file. So you first might need to start a fake return to be able to download the state program (go to FILE - NEW).

You can buy the CD/Download here,

https://turbotax.intuit.com/personal-taxes/cd-download

[DawnC]

You can switch to the desktop - here are the instructions to keep what you have started in TurboTax Online.     If you have already paid for TurboTax Online, you will need to contact Support to get a refund.   When you have the desktop, you want to look at Forms 1116 and or Forms 2555.

Options for avoiding double taxation

To avoid double taxation on Americans living abroad, the IRS gives them a choice:

• Deduct their foreign taxes on Schedule A, like other common deductions.
• Use Form 1116 to claim the Foreign Tax Credit (FTC) and subtract the taxes they paid to another country from whatever they owe the IRS.
• Use Form 2555 to claim the Foreign Earned-Income Exclusion (FEIE), which allows those who qualify to exclude some or all of their foreign-earned income from their U.S. taxes.

Using the FEIE and FTC together

If you choose to use the FEIE, you can then use the FTC on any income that exceeds the allowed exclusion amount. You can also use the FTC by itself.

Consult a tax professional if you want to switch from exclusively using the FEIE to exclusively using the FTC for all your income. This revokes your FEIE election, making it unavailable to you for 5 years unless you obtain IRS permission with a private letter ruling.

Regulations related to income earned abroad are complex, and many of these situations aren’t entirely covered in TurboTax. Our experts can’t give you specific advice about many areas related to foreign tax issues, but we can let you know which ones the product supports.

@64dancer

[detienn]

I believe I have identified a calculation issue with TT program, as follows:

The automatic calculation done by turbo tax program for gross income from all sources (Form 1116) is incorrect. I downloaded the data source program and followed it line by line. In my case, 2 forms are impacted:

1) Form 1040 lines 1, 2b, 3b, 4b, 5b and 6b) plus

2) all gains reported on Schedule D minus Schedule D, line ii, Subtotal Line A (Form 4797, Gain from Part 1) plus

All the other forms that would potentially impact the calculation of gross income, do not apply to my case. 

However, the automatic calculation done by the program shows total income of more than $100,000  than I in fact earned in 2021. Is there a program bug with the calculation of this figure by turbo tax? $100,000 is a significant amount to be off by. Any suggestions?

Also technical assistance contact email does not work. Why so?

D.

[64dancer]

The gross income from all sources by TT was different from mine because I was using the positive numbers from my Schedule D rather than looking at the detail of every stock sold during the year and adding up the gains. Once I did that, it tied to the TT number. But I was only off $2,500, not $100,000.

As to the email not working, I feel like a couple years ago they stopped answering emails. Not sure why they even show it as an option to contact them.

[detienn]

Thanks, got it now. I was using both gains and losses from my capital gains schedule. I must exclude the losses and only tally the gains.

[gary mel]

I did it and I saw all the stuff that was supposed to be added.  Quite a handful!  This is the IRS at work?

[WBOZ]

The Gross Income can't be accurate because for my 1099B's, I've only entered the total proceeds and cost basis for a net ST gain or loss. It has no idea what the total ST gain was vs ST loss, so how could it possibly pull out just the gains.

[UserP001]

I am also not able to trace this issue through.  Is there any way to see the source numbers TT uses? 

I see the extremely inconvenient advice search myself from a reference list of 5+ forms/12+ fields, but that makes the deviation worse.

Is it possible to get an example for:

"All gains reported on Schedule D minus Schedule D, line 11, Subtotal Line A(Form 4797, Gain from Part I) plus"

[UserP001]

I found the answer in another thread. Would be great if TT provided an example or would change the wording of:

"All gains reported on Schedule D minus Schedule D, line 11, Subtotal Line A(Form 4797, Gain from Part I) plus"

to

"the sum of every single line item gain of every transaction / distribution in Schedule D (no aggregate values), excluding any losses, appearing on Schedule D"

Original Answer from JL4: The narrative definition of Form 1116 line 3ea is provided by Turbo Tax as shown by rogge1722.  I carefully followed the definition adding each reference amount and had never been able to arrive at the same number Turbo Tax determined.  The TT number was always much higher than my calculation.

I finally realized that I was interpreting the Schedule D instruction literally.  I had a significant number of trades and the numbers appearing on Schedule D were net gain/loss figures.  To get the correct value you have to go through each trade and add only the gains ignoring the losses.  In my case that added a significant value to 3ea and I finally had a number that quite closely agreed with TT.

This drove me crazy for quite some time and I hope this explanation helps others.

With that persons advice I found the issue.

Original Thread: "How does Turbotax automatically calculate Gross Income from all sources on the Form 1116 3e? There is error in automatic calculation. My Mac does not open data source."

Link: https://ttlc.intuit.com/community/taxes/discussion/how-does-turbotax-automatically-calcu[product key...

[Treetops10]

In My case it uses line 6a not 6b in the total which is incorrect. Need to see smart worksheet detail. TURBOTAX HELP PLEASE!!!!!!!!!!!!

[Treetops10]

This is not comlete eg missing line 6b