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Level 3

Question

2021 Form 1116 Schedule B (carryovers) can't efile

Forum|Forum|4 years ago
February 20, 2022
611 replies
2213 views

I'm getting a message that TT doesn't support e-filing because I have a value on line 10 of Form 1116, carryover of foreign taxes from Schedule B. A screenshot of the actual message is below.

Is this expected to change? In other words, will TT be supporting e-filing in this case when it releases Form 1116, now scheduled for March 3?

ErnieS0

Level 15

Possibly. The foreign tax credit section is not final in TurboTax. The expected date is March 3. Form 1116 Schedule B is a brand new form for 2021.

Schedule B is used to "reconcile your prior year foreign tax carryover with your current year foreign tax carryover. Taxpayers are therefore reporting running balances of their foreign tax carryovers showing all activity since the filing of their prior year income tax return."

For the latest update see IRS forms availability table for TurboTax individual (personal) tax products.

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Payer06Author

Level 3

"Possibly" is hardly a reassuring answer.

If Turbotax is not going to support Form 1116 for e-filing, it should not advertise that it supports 1116 (https://turbotax.intuit.com/personal-taxes/irs-forms/) and that it supports e-filing.

DoninGA

Level 15

@Payer06 wrote:

"Possibly" is hardly a reassuring answer.

If Turbotax is not going to support Form 1116 for e-filing, it should not advertise that it supports 1116 (https://turbotax.intuit.com/personal-taxes/irs-forms/) and that it supports e-filing.

Form 1116, Foreign Tax Credit for tax year 2021 is estimated to be finalized and available for E-Filing in TurboTax on 03/03/2022

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

Payer06Author

Level 3

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html now says 1116 Sch B will not be supported for e-filing. It feels very bait and switch that this only shows up now, especially since it had been saying 1116 was supported for e-filing and it has been supported for e-filing for many years.

DoninGA

Level 15

@Payer06 wrote:

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html now says 1116 Sch B will not be supported for e-filing. It feels very bait and switch that this only shows up now, especially since it had been saying 1116 was supported for e-filing and it has been supported for e-filing for many years.

Form 1116 Schedule B Foreign Tax Carryover Reconciliation Schedule is new for tax year 2021 so has never been available for e-filing.

Form 1116, Foreign Tax Credit for tax year 2021 is still estimated to be available on 03/03/2022

Taxachusetts

Level 4

Let’s put it a different way: TurboTax has historically supported E-filing when customers had foreign tax credit carryovers. Now, TurboTax will not support that. There is a $10 online tax program that will e-file tax returns when a person has foreign tax credit carryovers. Surely Intuit could restore this functionality if it wanted to.

HK-NYC

Level 4

Waited till today (3/3/2022) for the update to Form 1116 only to find that Schedule B is not there and I have no choice but to file by mail.

Per TurboTax, New York State require e-filing which cannot be done either because the Federal tax filing cannot be e-filed.

Form 1116 Schedule B is available on the IRS website... why can't TurboTax go that extra step?

zhangxy

Level 2

Same problem for me. Has been using TT for 10+ years. Very frustrated about the issue!

It seems that Form 1116 schedule B is not available at all even for recording the ongoing carryover to 2022.

"This will require Form 1116 Schedule B, which will be available in a future product update".

Is this just a product release delay issue?? Could someone from TT comment on this?

jtrevor

Level 4

Add me to the list of frustrated multiyear TurboTax users. I waited till today to complete my tax return (which otherwise was ready on February 9) specifically due to needing Form 1116. Now I learn 1116 Sch B will not be supported in E-file, AND I have to wait till March 31 to even complete a paper filing (which will put me in the IRS' 10-month backlog) - all for $30 in credit? If I didn't think it would impact future returns I would just not claim a carryforward.

Goodbye, Intuit.

HK-NYC

Level 4

Looked back at the forms availability list and this is what shows:

It will be available for Print on 03/31/2022 but e-file will be unsupported.

sjlocke

Level 5

This is complete BS. I've been done, waiting for 3/3 to file, and now I can't e-file at all, I have to wait for 3/31 to paper file? What is the holdup here? Yeah, I think I'm going to go ahead and file and amend it later. Thanks TT!

rts58

Level 2

I'm going to try @Taxachusetts suggestion and use OLT.com. I'd rather not deal with an amended return. I've also been waiting for 1116 to be released only to find out I need Schedule B and they are not supporting online filing.

I've been using TT for over 20 years now. Never been that happy with them since I found out about their lobbying efforts to complicate online filing and their efforts to hide the free file option. I guess this is the straw.

talltodd

Level 5

Is this supported in TaxAct? I'm ready to switch. Totally ridiculous.

austrartsua

Level 2

Add me to the list of people totally screwed by this. Now I can't e-file. Because I have some $45 foreign tax credit nonsense. I'm going to your competitors. Thanks for wasting my time turbotax.

Carla55

Level 2

So I either give up $400 CREDIT or do a snail mail file in a return to IRS which hasn't even got 2020 mailed returns entered yet? Is there no way around this?

SCswede

Level 5

Does anyone know if the IRS will accept the 1116 Schedule B electronically.

If so, the form itself looks similar to the TT Form 1116 Statement of previous years so why can't TT develp that form electronically if they can do it for printed and mailed returns?

Adelmaneric7

Level 3

Also, regarding Form 1116 availability, if we can’t file our federal return electronically does this also mean that we can’t file our state return electronically? I file a Colorado state return.

I’ve been really pleased with TurboTax but this form 1116 issue is very disappointing.

TinkerToyRonnie

Level 3

Does anyone know if you can e-file a tax return using H&R Block download tax app that contains Form 1116 Schedule B?

Hugo66

Level 2

Nope, tried that already. Once you get to 1116 Schedule B it says you need to sign up for a tax advisor to finish the taxes for an additional $89. But I think they can e-file it for you then.

rifi

Level 5

Hugo66

New Member

21m ago

“Nope, tried that already. Once you get to 1116 Schedule B it says you need to sign up for a tax advisor to finish the taxes for an additional $89. But I think they can e-file it for you then.”

Is that so - can you kindly provide a screen copy?

Adelmaneric7

Level 3

Since it’s now March 3rd can someone from TurboTax please respond to this thread and let us know if Form 1116 will be available for E-File before April 18th? The TurboTax website used to say that Form 1116 would be available for E-File on 3-3-22 but it now says unsupported for E-File. I would like to know if ’Unsupported’ fir this tax year is Turbo Tax’s final conclusion.

jtrevor

Level 4

Adalmaneric, to be clear, Form 1116 IS supported by TurboTax, both electronically and via mail. It's the new Form 1116 Schedule B (which is needed for carryforwards/carrybacks) that will only be available via mail on 3/31/22 and is not supported electronically. Unfortunately, most people who need 1116 also need 1116 Schedule B so this is kind of a moot point.

corys

Level 2

I had the same problem (after downloading today’s update with Form 1116). So I switched from taking the foreign tax credit (with Form 1116) to taking the foreign tax as an itemized deduction. Figured I could amend later if it made a big difference. But to my surprise, it made no difference and TT now says I’m good to efile.

Adelmaneric7

Level 3

Thanks for the suggestion corys but I don’t think that will help those of us that have a foreign tax credit carry forward. Please let me know if I’m missing something because I’m still hoping for some type of TT solution.

TrishMarie

Level 3

If anyone is saying that it didn't matter if they took a deduction or credit, they must be doing itemized deductions, the stand deduction would not change. If someone has another idea, please respond if I am incorrect in my thinking. thanks