2021 Form 1116 Schedule B (carryovers) can't efile

[TrishMarie]

If anyone is saying that it didn't matter if they took a deduction or credit, they must be doing itemized deductions, the stand deduction would not change. If someone has another idea, please respond if I am incorrect in my thinking. thanks

[jtrevor]

https://ttlc.intuit.com/turbotax-support/en-us/contact - Intuit contact info

TrishMarie, I outlined all the options back on page 4 as given by Intuit support.

[Relaxed_Duck]

@TrishMarie, I see it the same way you do.

[unmesh59]

@Relaxed_Duck 

Based on your post, I went and looked carefully at the PDF return that TT generates and it does seem to have included the carryover into Form 1116 so you'd think it would be trivial to add Form 1116SB since any entries in it don't affect the math

@DC-taxpayer 

By the same reasoning, we should be able to download, fill and print 1116SB and add it to the printed stack of forms from TT

[jnolet99]

Todd - Did Suzie from the office of the CEO state when TT would update their Forms Availability web page so that a target availability date of 3/31 would replace "unsupported" as currently stated?

Thanks for your escalation!

Jason.

[unmesh59]

@dgb65 

I saw your much earlier post about postponing taking the foreign tax credit (or maybe just the carryover?) this year. I'm okay to do it so that I can efile but I can't get the software to give me the option again :(

[sarahemarsh]

How/where did you indicate that you preferred a deduction rather than a credit?

[dragon254]

I can not efile due to the fact that Form 1116 Schedule B (carryovers) will be provided by Intuit for print only on 3/31. What kind of disdain for the customers is this ?  I had no problems in the past with Form 1116 Schedule B and now I can not use TT Premier to efile my 2021 return although a "free" federal efile is included with the program. 

[turbokarst]

Form 1116 Schedule B is new for this year and has never been filed by anyone.  In the past you may have used form 1116 and TTax kept track of your carry over but Sch B did not exist.

[TrishMarie]

Use the interview step-by-step instead of the forms view.  It will be in the income section with your dividends.

"Tell us about your foreign taxes"

There are three boxes to check

You have no more foreign taxes to enter other than those you already entered on a 1099-Div.

You have no foreign tax credit carryovers from earlier years

This information is from member dgb65

hope this helps

[dgb65]

@unmesh59

Try going to the Federal Taxes tab, then Deductions & Credits.  Scroll down to Foreign Taxes, and click on update.  If you don't get to the "Tell Us About Your Foreign Taxes" page, try using the "Back" button on what ever page you are looking at.  Keep using the back button until you are at the Deductions & Credits page and then try to Update the Foreign Taxes again.   That seems to have "reset" the questions TT asks and the second page hopefully is the you are looking for.    If that doesn't work, save your work and close the program and then reopen and try again.  

[TrishMarie]

Look for the form ....

Form 1099-DIV

Box 7

you can choose deduction or credit

[redfishray]

jtrevor, thanks for the good summary of options.

Since I already purchase TT for 2021 (been using for 20+ years) and I don't like screwing around with refunds;

1st I will wait a few days to see if TT management actually responds to its' TT Customers and adds this capability.

2nd if not I will use one of the options you mentioned to e-file (most likely b).

3rd If TT Management does not respond appropriately, I will use other tax software next year.

So, TT management should also take into consideration that many of us who might still use TT for this year (i.e. not ask for a refund) may be moving on next year, if they don't handle this. 

[Andy1z]

I tried to ignore the 1116 and file without it (thinking I might then amend later) but TT knows you have foreign taxes paid from your 1099 data entered.

[DCtaxpayer]

Thank you. I am very interested in something you wrote.  Are you saying you paid what you owed (I also owe this year) at IRS Direct pay and then submitted your tax documents separately without a check? If you did this, did you put documentation with your filed taxes showing you already paid the amount that shows up as owed? And if yes, what is this documentation and do you put it where you would normally put a check?