It is confusing reading all the discussions about removing/replacing “Various” in Form 1116. Many people wrote that they replaced “Various” for the entry for “Foreign Country” with “RIC” in Part I, Line 1. As well as replacing “Various” with a date like 12/31/2020 in Part II, Date Paid. To see this you must switch to Forms View.
TT does seems to be choking on any entry of “Various” and not just on Form 1116. I had the same problem on Form 8949 (as I think TT incorrectly flagged an entry of Various for aggregated transactions).
In all these cases Various is a correct entry and TT should not flag it as erroneous when you try to e-file.
I kept (the correct entry of) Various in Part I Line 1 and changed Various in Part II, Date Paid to 12/31/2020.
My e-file return was initially rejected until I changed the Date Paid. Then it was accepted.
So what’s up with RIC versus Various for Foreign Country? Just as background. RIC is the correct choice if you had foreign taxes paid from a mutual fund. If you had a Canadian stock, then CA is the correct entry for Part I, Line 1. If you had 2 or more individual stocks say one from Canada and one from Switzerland, the correct entry is Various and that should be why you see the entry of Various on your 1099-B form. In this latter case RIC would be an incorrect entry.
I kept the correct entry of Various for Part I, Line 1 but changed the date paid from Various to 12/31/2020 and had no problem with e-filing.
I suggest that you keep Various in Part I, Line 1 because it is what your 1099-B shows but change the date from whatever is showing up in 1116 Part II to 12/31/2020 per the many comments in this thread. If your case is like mine your return will get accepted. Though TT is a moving target and may have made some changes since I e-filed.
