Form 1116

[scotsman2]

I noticed that there is a "Do not file" notice on my 2021 Form 1116.  Does Turbo Tax have a timeline for fixing this issue?  I assume that if I were to e-file, using the current form, that the IRS would reject my submission.

[DoninGA]

If you have a Form 1116 included in your tax return you would not be allowed to e-file since the form is not yet ready for e-filing.

Form 1116, Foreign Tax Credit for tax year 2021 is estimated to be finalized and available in TurboTax on 02/24/2022

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

[scotsman2]

Thanks!

[scotsman2]

One odd thing is that even though it has my foreign tax credit at the bottom of the form, there is a statement at the end telling me I am not required to file it.  Then during my review of return for errors, there is a statement that this return is work in progress and will be finalized later, then, it that were not confusing enough, there is the notation; Available: 0.  I understand that my circumstances do not require me to file 1116, yet I get some conflicting feedback.

[TeresaM]

The IRS is still finalizing some of their forms and because states depend on the information in the federal return, they often have a delay in some forms at the beginning of the tax season.  After they finalize, of course, TurboTax needs to integrate the changes.

Here is a link where you can see estimates for dates the federal forms will be ready. We are currently expecting Form 1116, Foreign Tax Credit for AMT to be available by February 24th. Please take it through review after the form is completed and it should resolve any messages and clearly delineate if it is required for filing.    IRS Forms Available Estimates

[scotsman2]

The source of my confusion over this, is that it states on Form 1116 that it is not required, because I met certain exemptions from filing it (the total benefit was $17).  The review showed no errors, and the PDF for filing did not have the form attached.

[JulieS · Accepted solution]

In some cases, Form 1116 is not required. If all of your foreign tax is reported on Form 1099-INT, 1099-DIV or Form K-1, and you have no exclusions or carry overs, you may not have to file Form 1116. 

If you want to check this, you can delete Form 1116 from your return and see if you can e-file without it. 

This is how to do that:

1. From inside the return, scroll down to Tax Tools on the bottom of the left side menu.
2. Select Tools.
3. Click on Delete a form (third on the list at the bottom of the screen).
4. Find Form 1116 on the list of forms.
5. Click Delete to the right.
6. Confirm your Delete.
7. Click Continue in the lower right. 
8. Click Continue with my return.

At this point you should be able to complete your e-file. If your Form 1116 repopulates, you have a carryover from 2020, or another situation that requires the form, and will need to wait to file. 

[scotsman2]

I use the desktop version, and it seems to work on the same principle. On the forms I printed out for filing (I do this to check my entries before E-filing), the $17 tax credit appeared on Schedule 3, and Form 1116 wasn't attached. I don't know if E-filing would still attach the form. I was hesitant to delete Form 1116 because the credit appeared on the last line and I thought it might be linked to the worksheet. I will try deleting it and see if it works.

[scotsman2]

Follow-up: Deleted Form 1116 on desktop version and it worked.

[2018problems]

they issued the 1116 form on 3/3 but then it requires an additional form  1116 Schedule B and there is no info as to when it will be available

[mesquitebean]

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@ 2018problems wrote:

they issued the 1116 form on 3/3 but then it requires an additional form  1116 Schedule B and there is no info as to when it will be available

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Form 1116 Schedule B ( Foreign Tax Carryover Reconciliation Schedule) is a print-only form and is projected to become available for those who need it on 3/31/2022, according to this table:

TurboTax IRS Federal Forms Availability Table:
https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-pe...

[DCtaxpayer]

I am trying to figure out if I can delete the form.  TurboTax 2022 shows me having a foreign tax carryover but I can't find anything on Form 1116 from 2021 that shows that I had a carryover.  I am wondering if the reason I had a carryover is that I took the standard deduction in 2021. Does this make sense and if not is there another explanation anyone might suggest? thank you

[2018problems]

It is probably that the 1116 handling is still not correct. I am getting the error 

Form 1116 : Stm: Detailed Explanation must be completed. .. It must show the other deduction items for Line 3B column a.  & in the form they show is 3 , A.

There are no Line 3B column a  or 3, A the form

[Paperclip13]

Received an email that Form 1116 was now available.  My version of program Turbo-tax Premier WinPerRelease [phone number removed] does not have this form.  However my program says it is up-to-date, no updates available.  Please advise.  Thanks

[Paperclip13]

Release #[phone number removed] was deleted as a phone number?