I got a message from TurboTax that Form 1116 is finally ready for filing. However, after completing the form and having everything else ready TurboTax came with one final issue:
"Form 1116 (Copy 1) -- 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." And it shows a carry-over value for 2021, which is the correct.
However it doesn't tell me what to do about this. When I just "done" the issue just comes up again. I don't understand this. I'm paying foreign taxes on dividends and getting the corresponding foreign tax credit for more than 20 years, and also had carry-overs frequently, including the last 5 years, and never had a problem. This includes last year - 2020, in which I also e-filed in with TurboTax March and received my return soon afterwards.
What shall I do about this? Do I have to wait for the "future product update"? Any idea how long this will take?
I overestimated my tax dept and expect a 4 digit refund. Also, I already paid TurboTax in February to get the discount. Do I get my money back, if TurboTax doesn't provide the update in time?
