DaveF1006
Employee Tax Expert

Get your taxes done using TurboTax

There may be several reasons why it's not showing up

 

1. The "De Minimis" Exception.

 

If your total foreign taxes paid are below a certain threshold ($300 for individuals or $600 for married filing jointly), you are often exempt from the requirement to file Form 1116.

 

The Result: TurboTax calculates the credit and puts it directly on your Form 1040 (Schedule 3), but it "suppresses" Form 1116 because the IRS doesn't actually require it in this specific scenario.

 

2. The Credit vs. Deduction Choice

TurboTax defaults to the Credit (Form 1116), but if the software determines that taking an Itemized Deduction (Schedule A) is more beneficial for your specific bottom line, it will swap them.

 

The Result: Form 1116 stays in the background as a "workpaper," but it isn't included in the final e-file bundle because the deduction was used instead.

 

3. Carryover Only (No Current Year Tax)

If you are only entering Carryover amounts but have $0 in foreign taxes paid for the current year, and no current foreign income to offset, the form may be generated to track the carryover but might not be considered a "required filing form" for this specific year's return.

 

If you wish to have a copy of your carryovers, go to open form in your forms mode and type in 1116 Comp Wks. When it appears in the right pane of your screen, select Print at the bottom.  You can also print Form 1116 with the same method.

 

 

 

 

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