Deductions & credits
Form 1116 Foreign Tax Credit is now available but we are not expecting Form 1116 Schedule B until March 31st, when it will be available to Print and File by Mail but will be unsupported to e-file. Form 1116 Schedule B is used to reconcile your prior year foreign tax carryover with your current year foreign tax carryover. Please see the image below. Filing by Mail generally has delays and the last two years it has had substantial delays. You will be able to print your return after the forms are available but depending on how it impacts your return, you may wish to e-file without the credit, then after all the forms are available and your e-filed return has been processed, file an amendment to claim the credit.
If you decide to wait and file by mail, just re-enter the return after March 31st and take it through Review again.
If you prefer to file without the credit and amend later:
To revisit the section of the return for Foreign Tax Credit:
- Select Federal
- Click on Deductions and Credits
- Scroll down to the Estimates and Other Taxes Paid section and click on Show More
- Select Revisit/Start for Foreign Tax Credit
This should clear your return but if perhaps the form is still in your return and flags it in Review, you can manually delete the form.
In TurboTax Desktop
To be sure there is not a partially completed form in TurboTax, please check in Forms mode to delete the form from your return. You will want to make sure there is not a Form 1095-A or a Form 8962.
- Please go to the upper right-hand corner and click on Forms; it will show you a list of all the forms in the return along the left column.
- If you see a Form 1116 Schedule B, click on it and it will open in the pane on the right. You can click Delete Form, at the bottom.
- Go to the upper right-hand corner and click on Step-by-Step (or Easy Step) to switch back to Interview mode.
This should remove all traces of the form and allow you to file without that error message.
When you come back to amend, this TurboTax Help article has step by step directions to amend your return. You will want to wait until your original return is processed before you submit the amendment. Amend a Return
