If one is claiming a foreign tax credit and has multiple categories of foreign income, then one must fill in a separate Form 1116 for each category. Part IV of Form 1116 (the part that sums all credits) is only filled in on one of the forms. TT completes Part IV on COPY 1 of the form. I made the mistake of ordering my Form 1116s with COPY 1 (re-sourced) listing the largest tax paid, and COPY 2 (passive) listing the next largest tax paid. (I only have two categories of foreign income.) Normally this would not have been a mistake, since one usually receives a larger credit for the income category with the larger tax. Upon re-reading the IRS's Form 1116 instructions, I note on page 23 that the copies should be ordered with Part IV being completed on the one with the largest credit (i.e., what is listed on the forms' line 24). So here is my problem: Is there a way for me to reverse COPY 1 and COPY 2 of my 1116 forms in TurboTax, or do I need to re-enter everything? An observation: I noticed that deleting the copies erases my entire history of carryovers when I try to create new copies of Form 1116, so that does not seem to be a reasonable option. (Maybe the best option is just to edit the two copies such that the information is reversed.)
