Form 1116 line 16

3 replies
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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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itonewbieAnswer

Level 15

Under Credits > Foreign Tax Credit (1116) > Foreign Tax Credit (1116), on the line for Adjustments to foreign source taxable income.

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itonewbie

Level 15

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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A

atif1040Author

Level 3

It is basically an adjustment for the recapture of domestic losses from last year.

itonewbieAnswer

Level 15

Under Credits > Foreign Tax Credit (1116) > Foreign Tax Credit (1116), on the line for Adjustments to foreign source taxable income.

---------------------------------------------------------------------------------Still an AllStar

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