Yes, the Gross Income from All Sources Smart Worksheet is embedded in Form 1116. You can view this in TurboTax for desktop using Forms Mode.
Click the Forms icon in the TurboTax header.
Look for Form 1116 in the left column. Click the form name to open it in the large window.
The Smart Worksheet appears after Line 3d.
If you right-click on most number and choose Data Source, you can see where the numbers came from. If that is grayed out, click on the "about" link to read more. In some cases, there is no reference for a number, especially if it was entered through the interview (blue font) or carried over from last year (green font).
Yes, I understand, but I am looking for the actual numbers for each item that add up to the total amount.
Yes and we are to in the Windows version. Seems there is an error in the calculation as we get a substantially different number than the number calculated by TT
If you believe you have identified a calculation issue within the program, please contact TurboTax technical support for assistance: <a rel="nofollow" target="_blank" href="https://support.turbotax.intuit.com/contact/">https://support.turbotax.intuit.com/contact/</a>
This line show only the total but where can we see the detail to determine this number. According to me it is too high but I can't verify what I miss.We see only a number we don't see how to get to this number.
I have the same issue. The Gross income from all sources is high and there is no details supporting how it is calculated by turbo tax.
Hope this helps. Please like. Thanks!
Calculated Gross income from all sources:
This is total income before deductions and is the sum of:
Form 1040, line 1 plus
Form 1040, line 2b plus
Form 1040, line 3b plus
Schedule 1 (Form 1040), line 1 plus
Schedule 1 (Form 1040), line 2a plus
Schedule C, line 7 (all copies) plus
All gains reported on Schedule D minus Schedule D, line 11, Subtotal Line A(Form 4797, Gain from Part I) plus
All gains reported on Form 4797 plus
Form 1040, line 4b plus
Schedule E, line 3 total plus line 4 total plus
Schedule K-1 Worksheet - Partnerships Box 16, Code B (if it has a value); otherwise income reported on line 1, 2, OR 3 plus any amount on line 4 plus
Schedule K-1 - Partnership Additional Information page 1, Box 11 section,Code A, line 1 (if positive) and line 3 and line 4 and Code I, line 5
Schedule K-1 Worksheet - S Corporations Box 14, Code B (if it has a value); otherwise income reported on line 1, 2 or 3 plus
Schedule K-1 - S Corporation Additional Information page 1, Box 10 section, Code A, line 1 (if positive) and line 3 and line 4 and Code H, line 5
Schedule K-1 Worksheet - Estates and Trusts, Box 14 Code B : Foreign Tax Information section, line 7 (if it has a value); otherwise income reported in Part III lines 5, 6, 7 and 8 plus
Schedule F, line 11 (all copies) plus
Form 4835, line 7 ( all copies) plus
Schedule 1 (Form 1040), line 7 plus
Form 1040, line 5b plus
All positive income amounts on the Other Income Statement
How can I access /see the calculated data on Form 1116 "Gross income from all Sources" (in the box after line 3d)? Using a Mac 'right click' doesn't open data source, nor can I find the "gross income from all sources smart worksheet' using the search function in 'forms'.
The boxed Gross Income for All Sources is the Smart Worksheet.
Line A displays Line 3e, gross income from all sources:
Line 3e is your GROSS income from ALL categories of income from ALL sources, both foreign and U.S. Gross income means income without taking into account any deductions or losses. The gross income from all sources is calculated for you automatically.
The Gross Income from All Sources Smart Worksheet can be adjusted on Line B of this worksheet (positive to increase the amount or negative to decrease the amount) on the FIRST COPY OF Form 1116 ONLY.
Thanks for the detail - I guess the thing I don't understand is including Schedule E part - line 3 is Rents Received. Should it not be Line 24 (Income?).
Rent expenses are not deductions but a way to get to Income from the property. I could gross 100K but if my expenses are 110K I don't see how I have 100K in gross income.
This seems like a formula error to me unless there's some unique way that TurboTax is treating the term "Gross Income"
I have confirmed that the "Gross Income from All Sources Smart Worksheet" in the Form 1116 is erroneous.
The "Calculated gross income from all sources" field is adding the "foreign income excluded" twice in the total. To fix it, I added an adjustment of minus "Foreign Income Excluded" -- this fixed the calculation for my taxes -- but Turbotax should fix the bug.
I think this amount is high but I have no idea why and is the originally reason I bought turbo . i.e. to do this correctly for me.
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.
How do I get to Forms Mode. I do not see an icon for it. I am using the online version of Turbo Tax.
The Forms Mode is not available with the online TurboTax, it is only available in the desktop version.
Can I get the desk top version without an additional cost?
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…….
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
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:
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.
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.
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.
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.