Form 1116 (Foreign Tax Credit)

[Dan]

I don't know if this will be a problem with the 2015 (form 1116) but the 2014 (form 1116) did not calculate the correct amount for Part 1; 3e (gross income from all sources).  What happened was that form 4797 had in part 1; 2g (gain or loss) these amounts in 1 & 2 below:  

1. $31,075 gain

2. ($7,430) a minus amount

When adding gross income from all sources it took the remainder of 1 minus 2 instead of the amount in 1.  

Has anyone had this problem and what did you do about it?   

[Abby Normal]

Was this reported to ATX?

[Dan]

Yes!  I was a long time on the phone with a representative from ATX.  I sent them a copy of the 2014 return but haven't heard back yet.  Another tax program I worked with had the correct calculation.  

[Dan]

Part III, line 10 has the words (attach detailed computation).  Does anyone have a worksheet you use for this?  This is in regards to Form 1116 (Foreign Tax Credit carryover).