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Level 4

Solved

Missing 2021 Form 1116

Forum|Forum|4 years ago
January 22, 2022
762 replies
2915 views

I am using TurboTax 2021 Home & Business Desktop version for Mac.

Last week when I tried to complete Foreign Tax Credit Form 1116 I received an error message that the IRS had not yet completed the form and I should check back later.

Today I updated to Formset 2021.11607. Using EasyStep it now allows me to enter preliminary Foreign Tax Credit information to the point of selecting between a credit or deduction. When I choose the deduction option the EasyStep process stops, it defaults to the credit option, and will not complete Form 1116. I do not get an error message, just the warning “Do Not File” on the blank Form 1116.

Is this a known bug with this update?

Is TurboTax still waiting for the IRS to make Form 1116 available?

Best answer by DoninGA

Form 1116, Foreign Tax Credit is estimated to be finalized on 03/03/2022

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

Show previous replies

PATRICK_1

Level 2

Form 1116 release on TurboTax has been delayed multiple times now. Original date was 2/17 I think. The date as of this posting is 3/3. Meanwhile the IRS released the final form in December of last year and Schedule B and C for the form in January. How many months does TurboTax need??

MarilynG

Level 15

Form 1116 is scheduled for 03/03/2022.

Click this link for a listing of Federal Tax Form Availability.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

matzbravo1

Level 2

It's March 2, 2022 and the easystep for TurboTax still says that Form 1116 macro is still not ready. I'm a wrong?

DoninGA

Level 15

@matzbravo1 wrote:

It's March 2, 2022 and the easystep for TurboTax still says that Form 1116 macro is still not ready. I'm a wrong?

The Form 1116 will be available on 03/03/2022. READ the answer directly above your post.

matzbravo1

Level 2

No need to shout. The answer directly above my post does not appear unless I go to the very last page. The most recent recent posts should be listed first, instead of least.

robertm16

Level 4

it is extremely disappointing that TurboTax is so late with Form 1116. You keep slipping it, and now instead of Mar 3, you say "soon".

This is extremely problematic as many have to file immediately for various reasons, and you keep letting your customers down with delays.

DoninGA

Level 15

@robertm16 wrote:

it is extremely disappointing that TurboTax is so late with Form 1116. You keep slipping it, and now instead of Mar 3, you say "soon".

This is extremely problematic as many have to file immediately for various reasons, and you keep letting your customers down with delays.

Form 1116, Foreign Tax Credit for tax year 2021 is estimated to be available in TurboTax on 03/03/2022

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

robertm16

Level 4

Sorry, this is not true. The 3/3 due date as today been replaced by "soon" which could mean an indefinite delay

gfmeserole

Level 2

OK Is Marach 2nd and I am still getting the Form 1116 error message. When will it be fixed?

DoninGA

Level 15

@gfmeserole wrote:

OK Is Marach 2nd and I am still getting the Form 1116 error message. When will it be fixed?

Tomorrow, 03/03/2022

pidgarf

Level 2

According to the TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html, Form 1116 Sch B, Foreign Tax Carryover Reconciliation Schedule will be available for Print: 03/31/2022, but unsupported for E-File. What does this mean?

Winswife62

Level 2

when will form 1116

be available?

RudyG1

Level 3

Tomorrow (3/3) according to their web site.

Nabih

Level 2

I am using TurboTax premier om my Windows 10 laptop and got hung up on completing form 1116, foreign tax credit. TurboTax keeps telling me that the IRS has not finished preparing this form. i have used TurboTax for over ten years and have never seen this before. Today is March 2cd. Does anybody know if this is a bug in TurboTax Premier?

DawnC

Level 15

It isn't. The Foreign Tax Credit Form 1116 is not available in TurboTax quite yet. That date it will be available depends on whether or not you need Schedule B of Form 1116. Schedule B (Form 1116) is used to reconcile your prior year foreign tax carryover with your current year foreign tax carryover.

Form 1116 without the Schedule B is tentatively scheduled to be finalized on 03/03. Form 1116 with Schedule B is tentatively scheduled for 03/31. If your return does not contain the Schedule B Form 1116, which is used to reconcile your prior-year foreign tax carryover with your current year foreign tax credit carryover, you should be able to e-file after 03/03. The links are to the full list of available TurboTax forms.

@Nabih

Options for avoiding double taxation

To avoid double taxation on Americans living abroad, the IRS gives them a choice:

Deduct their foreign taxes on Schedule A, like other common deductions.
Use Form 1116 to claim the Foreign Tax Credit (FTC) and subtract the taxes they paid to another country from whatever they owe the IRS.
Use Form 2555 to claim the Foreign Earned-Income Exclusion (FEIE), which allows those who qualify to exclude some or all of their foreign-earned income from their U.S. taxes.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Aerobach

Level 2

I was given the error message for Form 1116 also. After going to the TurboTax forms availability site, I saw that the form wouldn't be available until Feb 17 (even though it was available on the IRS site). So I waited. Then the date changed to March 3 - so I waited. Now I see that the date changed to March 31 -- AND THE FORM WILL NOT BE SUPPORTED FOR E-FILE !!!!!! SO NOW I HAVE TO PRINT OUT MY FORMS AND CAN'T E-FILE ????????

TurboTax -- You have just lost a loyal customer who has purchased and used your product for over 15 years. Why did you take away this functionality and why did you string me along (hold up my filing) for over a month - and then take away my ability to efile my return?

VERY UPHAPPY !

VERY DISSATISFIED !

DoninGA

Level 15

@Aerobach The Form 1116 is still showing as being available on 03/03/2022

What you are referring to is the Form 1116 Schedule B, Foreign Tax Carryover Reconciliation Schedule which will not be available until 03/31/2022 and can only be printed, not e-filed.

IRS Form 1116 Schedule B, Foreign Tax Carryover Reconciliation Schedule - https://www.irs.gov/pub/irs-pdf/f1116sb.pdf

IRS Form 1116 Schedule B, Foreign Tax Carryover Reconciliation Schedule instructions - https://www.irs.gov/pub/irs-pdf/i1116sb.pdf

the4cooks

Level 2

Updated 3/3 when Form 1116 was to be available. On screen Fed Taxes/Fed Review shows Tax Forms to revisit Form 1116 Available (0). ????? Can I file????

rick466

Level 2

Exact same issue still exists on 3/3/22 even though the Turbotax forms status site says the Form 1116 is now available and I downloaded the most recent Turbotax update.

taxlady28

Level 10

Make sure you signin with the Chrome browser and clear browsing data for all time first. Otherwise it will find the old error message and put it on your screen. The form was included in the update today, but sometimes it takes a while for it to reach to every system. I always wait until the day after. When they say 3/3/22, that means then have until 11;59 PM to get it to work and say if was updated on 3/3.

donna m

Level 2

Honestly, I got tired of dinking around this one item. I had a $4 credit and finally gave up and elected to itemize the deductions (and ultimately lose the credit, but hey it's a cup of coffee). I've had my return ready to go except this item for a month now. Will likely rethink the software I use next year. I've been a Turbo Tax customer since the late 1990's, but time to move on if they can't get this one item to go and it was holding up a decent sized refund.

PATRICK_1

Level 2

For what it is worth I received a call back from Intuit's Office of the President today. They said despite what is published online they are trying to have Form 1116 including Schedule B available for e-file by March 16th. I know many are moving on already but for those that want to wait supposedly "management is aware" and that there are "all hands on deck". We'll see...