@xingchen1999199,
I checked the pdf version of the 2021 Federal return I filed about 90mins ago. I also compared it to the 2020 Federal return I filed last year. Here's what I see...
Just like the last page of the 2020 return that was transmitted by TT to the IRS, the last page of the 2021 return includes the following on the last page: "Foreign Tax Credit Carryover Statement" showing incoming Foreign Tax Credit amounts for each of the last 10 years, as well as the total amount. Recall, even though I had "cut" the value in the Total cell as part of my workaround for the TT Form 1116 Sch B situation we are all facing, the TT software automatically re-calculated the value and included it in the Total cell on the page that was transmitted to the IRS.
Neither the 2020 return nor the 2021 return that was transmitted to the IRS show details of the carryovers for the following years. i.e. Last year's return (the 2020 return) included carryovers from the past 10 years, but not what was carried forward to 2021. Similarly, the 2021 return includes carryovers for the past 10 years, but not what is carried forward to 2022.
@Payer06 rightly asks why I believe I will be able to claim carryover amounts next year even though I didn't file Form 1116, Sch B. My confidence (and I must agree that it could be misplaced confidence) comes from a prior experience about 9 years ago when I had claimed a deduction for my daughter's college expense and the TT file transmitted to the IRS included only the 1099-T details showing a withdrawal from my 529 account but not the 1098-T details that showed an equivalent $ amount as expenses. I received a letter from the IRS saying I had no expenses and therefore had to pay tax on my 529 withdrawals. I simply printed out the worksheet from TT, faxed it to the IRS showing the expenses along with a cover note explaining that I didn't realize that TT hadn't included the info in the file they transmitted. The IRS accepted the TT worksheet and my statement and closed the issue.
Now, my 2021 TT worksheets show the carryover amounts to 2022, so if I receive a letter from the IRS after I file my return next year asking me to prove that I had carryovers, I plan to repeat what I did 9 years ago - print the Carryover to 2022 worksheet from TT and fax it to the IRS.
As I stated, this may be misplaced confidence; but I do believe that the IRS understands that self-prepared taxes may not be as pristine as those prepared by expensive CPAs.
As an aside, I now have the IRS's acceptance email for my return, so I know the workaround I implemented has worked. I hope this helps those who are as frustrated as I am about this year's TT experience. Thanks to @Payer06 for asking an insightful question. I hope response provides everyone clarity on whether or not to proceed with the workaround that I implemented.
