Form 1116, Foreign Tax Credit

[Stan28]

I have an error on Form 1116 - Foreign Tax Credit. "Foreign Tax Credit Comp Wks: Total Outgoing C/O has a value. This will require Form 1116, Schedule B, which will be available in a future product update"  I have tried various things to correct the error including reducing my $817 FTC to $600, electing to use the Simplified Foreign Tax Credit Limitation and not using it.  Any idea when the product update is coming or a possible work-around? In 2020 I had $541 of FTC and no Form 1116 was needed and no carryover.  Same for 2019.  Any ideas?

[CarissaM · Accepted solution]

This form will be available on Friday March 11, 2022. You can monitor the form availability here. 

[yehjt]

Thank you.

I waited for the March 11 update for Form 1116.   I just finished the tax return and filed the Federal copy.

Will see whether it gets accepted.

jtyeh