topic Form 1116, Foreign Tax Credit in Investors & landlords

Form 1116, Foreign Tax Credit

Stan28 — Mon, 09 Mar 2026 08:44:12 GMT

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?

Re: Form 1116, Foreign Tax Credit

CarissaM — Wed, 09 Mar 2022 22:45:32 GMT

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

Re: Form 1116, Foreign Tax Credit

yehjt — Sun, 13 Mar 2022 21:35:55 GMT

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