Normally, single filers who paid $300 or less in foreign taxes, and married joint filers who paid $600 or less, can omit filing Form 1116. But using the form enables you to carry forward any unused credit balance to future tax years; without filing Form 1116, you give up this carryover tax break.
At this point, form 1116 may have generated because you were unable to receive the full amount of your foreign credit this year and having a Form 1116 will help you Carryover this amount to be used in future years.
If you wish to omit the carryover and if your foreign tax paid is within the prescribed amount I mentioned above, you can delete Form 1116. If online, go to tax tools>tools>delete a form>delete all forms and worksheets that reference Form 1116.
If using the software install, go to the forms mode and select Form 1116 plus all the forms and worksheets referencing Form 1116. Select each form and when it appears in the right pane of your program, delete form at the bottom of the page.
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