topic Error on Form 1116 in Get your taxes done using TurboTax

Error on Form 1116

bbjaspan — Mon, 23 Feb 2026 16:01:57 GMT

When I do Smart Check, I get an error on Form 1116 Comp Wks, Part 1 Taxable income (loss), line 4 Interest expense, b Deductible other interest, (1) c Adjusted basis of total investment assets. I do not have any interest expense; Line 4b(1)a is ZERO. All of my foreign income is from mutual funds. TurboTax will not accept a zero here. I always have Form 1116 and never had to enter this. Is this a bug?

Just to move forward, I entered a "1". The error is cleared and all looks correct. What is this about anyway?

Re: Error on Form 1116

pk — Mon, 23 Feb 2026 17:28:45 GMT

@bbjaspan I find your experience interesting -- blank and/or zero should have worked. I would have expected that adjusted basis of investment and total adjusted investment should be generally the same and therefore a ratio of 1.000 would be applied.

I have tried , using just updated version of windows desktop H&B, while choosing simplified method of computation and all works well/as expected. Will try the " rejecct" simplified method and see if I can duplicate your error situation.

I am glad you found a way out of your predicament

Re: Error on Form 1116

bbjaspan — Mon, 23 Feb 2026 17:49:43 GMT

Thanks for reply. What is "H&B"?

Re: Error on Form 1116

pk — Mon, 23 Feb 2026 20:30:58 GMT

@bbjaspan Home & Business -- the highest level of desktop version and able to handle the most complex scenarios.

Re: Error on Form 1116

bbjaspan — Mon, 23 Feb 2026 20:50:43 GMT

I have Windows desktop Premier.

Re: Error on Form 1116

JoelJ — Wed, 25 Feb 2026 20:22:55 GMT

Me too! I will wait to see in anyone has a better answer. I also entered 1 and it worked.

Re: Error on Form 1116

bbjaspan — Thu, 26 Feb 2026 11:45:16 GMT

No good solutions for this yet. Someone posted the same issue in Home & Business.