08-19-2004, 09:02 PM
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 Re: TurboTax Web and Form 1116( Foreign Tax Credit) A. Antonovitz wrote: - quote - > In using TurboTax Web to figure a foreign tax credit, it
Without knowing more about the details of your income, a> gives a Form 1116 line3e amount (gross income from all > sources), which is more than double my 1040 line 22 total > income. > Can anybody tell me what is wrong ? definitive answer is not possible. However, I believe the amount is supposed to be the gross positive income so it does not take any deductions (such as expenses of a rental on Schedule E) into account. Lanny K. Williams, CPA Nawarat Williams & Co., Ltd. Income Tax Services for Expatriate Americans << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
08-17-2004, 01:53 PM
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| TurboTax Web and Form 1116( Foreign Tax Credit) In using TurboTax Web to figure a foreign tax credit, it gives a Form 1116 line3e amount (gross income from all sources), which is more than double my 1040 line 22 total income. Can anybody tell me what is wrong ? TIA. Tony A. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1116, credit, foreign, form, tax, turbotax, web |
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