Form 1116

[Pablo287]

Hello!

I did my taxes online this morning and I ran into this situation:

I live overseas and did my Form 2555 foreign earned income exclusion as normal. When I went to check my return I kept getting the notification that something needed my attention, and it asked me to fill in information on my form 1116. I did not want to claim any paid foreign taxes. 

I tried the trick of going to tools, and deleting the form, but it a not listed as a form in my return. 

I tried numerous times to e-file, but got the notification that I needed to fix an issue, which was again the form 1116. 

After trying for 30 minutes to try and fix this I simply decided to file by mail-and when I printed my tax return there was no form 1116. 

This seems to be an error in the online version. I never asked to file a form 1116, but I could not delete and and it did not show up as a form in my return....catch 22? 

[DaveF1006]

Try this. Go to:

1. Federal>deductions and credits>deductions and credits>estimates and other taxes paid>Foreign Tax Credit>start or revisit
2. If the first screen asks you if you paid foreign taxes in 2021 or have credits from a prior year, say no.
3. if there is an entry or anything other than above, delete it from here.

Is it possible you claimed a foreign tax credit in a previous year?

@Pablo287

[Pablo287]

 Thanks for the tip. I unfortunately already sent my return off in the mail yesterday morning. I had just fought with it too long on Sunday afternoon to keep at it. 😀

I have not claimed a foreign tax credit before no. Actually next year I will be on some foreign investments, so I guess this will be a moot point! 

I do appreciate you taking the time to reply. Maybe it will help someone else as well. 

[wzhong99]

I tried the first two steps and Turbo Tax just brought me back to Federal>deductions and credits. Is the interview for form 1116 available now?

[Katina S]

According to the  IRS forms availability table, Form 1116 Sch B is ready and available to e-file.

@wzhong99

[wzhong99]

Do I need to manually work on the Foreign Tax Credit Computation Worksheet instead of working through the foreign tax credit interview? It seems I am not able to get into the interview following the steps in the previous post.

[FR925]

The schedule says "Form 1116 Sch B, Foreign Tax Carryover Reconciliation Schedule available", but the TurboTax Home & Business desktop software that we updated today (3/28/22) still says "This is just a quick reminder that we need to work on the tax forms in your return that were previously under construction. We've listed them below. if your forms still aren't available, we'll help you complete them on the dates shown. Form 1116 Foreign Tax Credit Available: 0".
We want to file ASAP. Will TTax add this form in the next 2 days, or what should we do?! Manually delete it since it's about pennies only?

[rbshirtsTax]

These instructions maybe are for the Windows version.  They don't agree with menus I am seeing for MacOS 10.15.7.  How do I delete Form 1116 on my Mac return?

[FR925]

I'm on Windows 11, FWIW.

[MarilynG]

You can claim the Foreign Tax Credit in the TurboTax interview.  You don't need to manually complete the forms.

Click this link for steps on How to Claim a Foreign Tax Credit.

Here's detailed info on Form 1116 you may find helpful also. 

[thorvost]

My problem with Form 1116 is that, although it is generated by TurboTax correctly, as far as I can tell, and including Schedule B, I keep getting the following error message when trying to e-file: "We can't efile your return because we are unable to locate the attachment at / attachment/Form1116ScheduleB.pdf. Please go back and re-attach it. Then try efiling again."

Based on advice in another thread, I switched the foreign tax option from credit to deduction (this deleting Form 1116) and then back to credit (necessitating re-entry of all related information), but I get the same error message. I'm using the latest version of TT Home & Business for Windows, version 021.000.559. I was told by customer service that the problem was known and scheduled to be fixed by 3/31, but obviously that has not happened. Any thoughts?

[BT56]

I do not have this option in my format. Can i just ignore Form 1116 since everything is on the forms from Morgan Stanley

[tuxedorose]

why cant TT do a better job helping us with simple foreign tax credit on passive investments in mutual funds?

I am really surprised as how complicated it is go through the turbo tax interview to get the foreign tax credit for what should be a very plain vanilla situation that many of us our in.   we have mutual funds , they generate dividends, sometimes we paid foreign taxes which show up on our 1099composites. sometimes these foreign taxes add up to more than $300.

we simply want to get a credit for them. but the questions TT asks in this section are confusing.  and to try to understand the form 1116 and the worksheets?  forget about it!    I get errors at during the review and it asking me to enter values into the form 1116 worksheets. why not ask me the required questions in the interivew .sorry for the rant... but it really seems this part of TT can be greatly improved.

[2018problems]

Fixing ALL the bugs before tax deadline would be a bigger help

[ScubaGT63]

@JulieS 

is this problem now resolved-- im just about to file and am down to the wire-- do i risk not being able to do so if this form Schedule B is not available?  

how can i tell if i need a Schedule B-- i had some UK dividends that are not actually on a 1099 DIV but TT somehow created an electronic 1099 DIv with the dat i completed under income....

thanks for advising-- i dont want to get a surprise as I try and file on monday morning !!!