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Deductions & credits
Yes, I have an answer and an apology to make to you. First of all, the apology.
I erred when I mentioned that 1116 Comp worksheet gets filed with the IRS. The reason I said this is that it didn't have an inscription Keep for Your Own Records. it doesn't get filed with the iRS. I apologize for the misinformation.
Secondly, and most importantly, you did not have an AMT situation this year. As a result, Schedule B AMT is not needed for IRS reporting purposes. if you look at your 6251, there was no AMT tax levied against you this year.
Whenever there is a AMT reporting requirement though, Turbo Tax will have a record of all of the carryovers that have occurred. I would suggest either printing this Schedule B AMT or keep as a PDF to keep with your tax return each and every year you carryforward the credit for your own reference.
If you wish to print and keep a copy of your Sch B AMT F1116 and if you are using Turbo Tax software, go to forms and then open forms. Type in Form 1116. Then you will see all possible entries for form 1116. Select Schedule B-AMT (Form 1116) and then open form at the bottom. This will allow you to print the form for your records. Turbo Tax also retains this form as well as the 1116 comp wks.
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