Search found 3 matches

by zoover
Tue Apr 11, 2017 3:34 pm
Forum: Canada / United States Tax & Accounting
Topic: TurboTax tricks to correctly calculate 1116 form lines 3d,3e
Replies: 5
Views: 5713

Okay here is what I did to get capital gains/losses to work: 1) I went into passive income 1116 worksheet (Turbotax "1116 Comp Wks") and on Line 1a added a "Capital Gains" of $1000 (for example). This represents all the positive capital gains I have had on stock trades. 2) Then o...
by zoover
Tue Apr 11, 2017 1:48 pm
Forum: Canada / United States Tax & Accounting
Topic: TurboTax tricks to correctly calculate 1116 form lines 3d,3e
Replies: 5
Views: 5713

Thanks for the reply Rafa02. Yes I suppose the default is to enter it manually or to do a hybrid manual/auto kludge. I will look into that. So it seems there is no way to get the capital gains added fully automated like we can for Foreign-source Dividends? If anyone else knows, feel free to comment!...
by zoover
Tue Apr 11, 2017 1:39 am
Forum: Canada / United States Tax & Accounting
Topic: TurboTax tricks to correctly calculate 1116 form lines 3d,3e
Replies: 5
Views: 5713

TurboTax tricks to correctly calculate 1116 form lines 3d,3e

Here is how I got TurboTax to properly calculate 1116, 3d "Gross foreign source income" and 116, 3e "Gross income from all sources" for dividends, both Canada-sourced and US sourced: 0) Remember that US companies' dividends count as US-sourced passive income and Canadian companie...