Form 1116, Foreign Tax Credit is now said to be available. However, when doing the Federal Review I get the message "If your forms aren't available, we'll help you complete them on the dates shown." followed by
"Form 1116 Foreign Tax Credit .... Available 0" What in the world does that mean? (please see attached).
Furthermore, when reviewing form 1116 (which is available), on line 35 it has the correct amount, but to the left of that it says DO NOT FILE FORM (see help). That says, in part,
If there is a description to the left of the amount on line 33 indicating that this form should not be filed, the information you have entered on your return indicates that you are eligible to claim the foreign tax credit WITHOUT attaching Form 1116 to the return. See Rules for Form 1116 and how the program determines whether or not Form 1116 needs to be attached to the return for more information. If the program determines that you are qualified to claim the credit without completing Form 1116, the full amount of current year foreign taxes will flow to Schedule 3, line 48 (limited to the amount of tax remaining).
In fact there is no line 48 on Schedule 3, but there is a line 8 that does show the amount of the foreign tax credit, and that does flow to 1040, line 20.
So does that mean that I can file, or not?
This is very confusing, to say the least.
Answers are correct to the best of my ability but do not constitute legal or tax advice.
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