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Deductions & credits
Yes, the IRS’s new (as of 2021) Schedule B made the extra statement obsolete, as it provides for detailed tracking of the carryovers on a form customized for their system. So all you’ll normally see is the 1116 itself, Schedule B, and the “1116 Comp Wks” (which is like a duplicate 1116, but with extra behind-the-scenes details from your entries included). Definitely nothing to worry about, Rotem!
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February 14, 2023
7:32 AM
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