atif1040
Level 3
10-27-2020
10:07 AM
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Anyone can advise how i can enter an amount on line 16 of form 1116 for 2018 tax year. There is an adjustment coming from 2017 return and i am amending 2018 tax return and struggling to show an amount on line 16. TIA
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itonewbie
Level 15
10-27-2020
04:31 PM
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Just because there's an adjustment on the 2017 return doesn't necessarily mean that there should be one for 2018. What exactly is the adjustment you're trying to make?
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atif1040
Level 3
10-27-2020
04:48 PM
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It is basically an adjustment for the recapture of domestic losses from last year.
itonewbie
Level 15
10-27-2020
06:57 PM
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Under Credits > Foreign Tax Credit (1116) > Foreign Tax Credit (1116), on the line for Adjustments to foreign source taxable income.
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