davetodd11
Level 5
I am taking over a trust clien/1041 return, and don't have experience with the Form 1116.  To ensure I've got everything accounted for, and establish a historical record for the trust in ProSeries in preparation for next year, I've taken the source docs that were used to prepare the 2020 return and compared my results to those of the previous tax accountant.  In ProSeries, Form 1116 Line 3e cross-references to Form 1041 Line 9.  However, the previous preparer used a separate worksheet to calculate the line 3e amount and excluded the gross capital losses from their 3e total.

The IRS instructions for Form 1116 indicate that line 3e should include " ... capital and ordinary gains (before subtracting any losses) ...", which seems to coincide with what the previous preparer was doing, but contradicts what ProSeries is doing.  Is this line one that ProSeries is just miscalculating, and needs to be overridden?
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