providencetaxpr e
Level 2
03-01-2023
04:20 PM
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I am looking at his SchB(Form1116) from 2021 1040 and I will be honest this is my first time actually handling this type of return. I just want to make sure that I am understanding this correctly. I also second guess myself.
Page one just has Passive box checked and line 8 has a zero, under the 10th year. Page two is what I am needing the clarification.
Line 1 has $1372.00 under 1st Preceding Tax Year (PTY) and then that same 1372.00 was carried over to total column
Line 3 has the same $1372.00 in the same columns as mentioned above.
Line 6 has $2063 in columns for Current Year and Total
Line 8 has $1372 in column 1st PTY, $2063 in Current Tax Year and $3435 in the total column.
Can you confirm this is showing no carryover?