Question
Form 1116 Part III line 17 is negative, but FTC still showing up on Part IV line 35
Hi,
So I have net loss for my foreign rental property and Form 1116 Part III line 17 is showing negative. I only have one category of foreign. income which is passive. The form says when line 17 is negative, I have no FTC available for this category of income and this aligns with I what I googled.
However, for some reasons, line 35 is popping up even though line 27 is zero.
I think this is some kind of glitch? There should be no FTC allowed for this year for me and FTC could be carried over?
How should I fix this?
Thank you very much.
