Nat Hussey
Level 3
06-03-2021
09:00 AM
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Client has $49K in passive income and $10k in passive losses. Because the passive income is foreign and foreign tax was paid on it, I was advised to complete Form 8621 and enter the passive income in Schedule 1 - other income. The software is not showing an offset of the income with the loss. Are there other places to enter?
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