Hello,
I am getting an error when Turbotax is completing my Federal review. In form 1116, I have a foreign tax credit carryover from 2020 which Turbotax wants to apply in 2021. There is a number in the carryover to 2021 box. However, there is an error which reads as: Form 1116 Foreign tax credit Comp wks. Total incoming C/O has a value. This will require Form 1116, schedule B which will be available in a future product update.
What should I do here? Upon checking the form availability schedule, it seems that Form 1116, foreign tax carryover schedule form availability is 03/17/2022 for print and unsupported for E-file. I typically E-file my taxes. Does that mean I won't be able to e-file this year? Or if I want to e-file I need to remove the carryover for this year and make it 0?
