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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Under Credits > Foreign Tax Credit (1116) > Foreign Tax Credit (1116), on the line for Adjustments to foreign source taxable income.
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?
It is basically an adjustment for the recapture of domestic losses from last year.
Under Credits > Foreign Tax Credit (1116) > Foreign Tax Credit (1116), on the line for Adjustments to foreign source taxable income.
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