I updated Turbotax (Windows Desktop, Premier) today. I have not changed any input of my data.
After the Mar-11-2022 update (that included Schedule B of 1116, but not update on this 1116 Comp Wks), now I get an error in 1116 Comp Wks (Foreign Tax Credit Comp Wks)
“Incoming C/O Utilized should not reduce the foreign taxes below 0.”
at “Utilized” for 2020.
I am not sure what is the indication of the error (I did not get this error before the update Mar-11-2022).
In the wks, in the line 2020, my “Utilized” is higher than “Foreign Taxes” because the carryover credit from 2019 was used.
When I try changing “Utilized” to be same as “Foreign Taxes” for 2020, the error disappears. (for testing. It is not true. )
Any advice would be highly appreciated.
