topic Foreign tax credit: Worksheet correct, 1040 shows less credit, and 1116 form "disappeared"? in Deductions & credits

Foreign tax credit: Worksheet correct, 1040 shows less credit, and 1116 form "disappeared"?

okaneplease — Mon, 23 Feb 2026 11:44:56 GMT

I'm crazily confused.

Combining two brokerage statements imported into TT, my 1116 Foreign Tax Credit Computation Worksheet (not sure why it's labeled "copy 1") correctly shows foreign tax paid of $392. But when I try to access form 1116, it's completely blank, and on my 1040 Schedule 3 the foreign tax credit is knocked down to $164.

I'm not able to access anything from the forms (especially no 1116?) that provides explanation of this reduced amount.

Anyone able to help?

Re: Foreign tax credit: Worksheet correct, 1040 shows less credit, and 1116 form "disappeared"?

ThomasM125 — Thu, 23 Feb 2023 23:41:30 GMT

One reason Form 1116 Foreign Tax Credit would not appear in your tax forms and schedules would be because the amount of your foreign taxes is under $600 and you are filing married-joint, in which case Form 1116 is not required. The credit is non-refundable, so it couldn't be more than your tax liability, so that may explain why it is less than your foreign tax. You can look at your form 1040 to see what your tax is on line 18.

You can view your form 1040 and schedules 1 to 3 while working in the online version of TurboTax by following these steps:

Click on Tax Tools in the left menu bar
Click on Tools
Look under Other Helpful links….
Choose View Tax Summary
Look in the left menu bar and choose Preview my 1040
Scroll down the page to see form 1040 and schedules 1 to 3

Re: Foreign tax credit: Worksheet correct, 1040 shows less credit, and 1116 form "disappeared"?

okaneplease — Fri, 24 Feb 2023 00:07:44 GMT

Thanks for the quick reply, @ThomasM125. You may be on to something!

Due to low income, I have no tax on line 16 of my 1040. Line 17 shows $164 for excess advance premium tax credit (APTC) repayment (Schedule 2, line 2). Is that why my foreign tax credit is maxed out at $164? I tried to artificially inflate (via override) the $164 amount on line 17 to see if that provided an equal increase in the foreign tax credit , but no override possible.

(Note that I'm using a desktop version of TT, so I can see all the forms at will.)

ETA: I just added a fake W-2 to adjust the income and I saw that it increased my APTC amount and therefore my foreign tax credit. Resolved. Thanks again!