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Level 1

Question

Form 1116 schedule B

Forum|Forum|4 years ago
March 3, 2022
10 replies
3 views

Why isn't Turbo Tax supporting efile for Form 1116 schedule B since it is required by IRS in 2021 along with the form 1116? It is a new form for 2021 so it really seems like poor customer service when we have been using Turbo Tax for many years with foreign tax credits. AND it says it supports Form 1116 but it really doesn't if I can't efile and I have to figure out a form by hand by myself.

Thamilan

Level 2

I was on the phone with turbo tax for nearly 6 hrs with 4 different people.

No resolution when 1116 Schedule B will be available (if at all) and no help for e-filing.

They simply say mail it in

If I delete the 1116 carryover worksheet, I loose about $800 (less in tax credit) and the error in the work sheet disappears and I can e-file I suppose?

If I do that can I file an amended return when Schedule B is available?

Eyeamnothappy

Level 2

On 3/21, magically the new form appeared, the error messages went away, and I was able to e-file. It has been accepted by the Feds and my state. Looks like they FINALLY fixed it

DaveF1006

Level 15

Yes, you can file without the 1116 Schedule B now. Form 1116 Schedule B will be available on 03/31 and you can file your amended return after that date.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

funolfun

Level 2

I'm having the exact same problem. So are you certain TurboTax will have e-file available for Form 1116 Schedule B on March 31, 2022? If I need to wait until then I will wait as I rather not paper file. Please confirm.

tmunoz

Level 13

Form 1116 Foreign Tax Credit is now available but we are not expecting Form 1116 Schedule B until March 31st, when it will be available to Print and File by Mail but will be unsupported to e-file. Form 1116 Schedule B is used to reconcile your prior year foreign tax carryover with your current year foreign tax carryover. Please see the image below. Filing by Mail generally has delays and the last two years it has had substantial delays. You will be able to print your return after the forms are available but depending on how it impacts your return, you may wish to e-file without the credit, then after all the forms are available and your e-filed return has been processed, file an amendment to claim the credit.

If you decide to wait and file by mail, just re-enter the return after March 31st and take it through Review again.

If you prefer to file without the credit and amend later:

To revisit the section of the return for Foreign Tax Credit:

Select Federal on the left menu bar
Click on Deductions and Credits on the top
Scroll down to the Estimates and Other Taxes Paid section and click on Show More
Select Revisit/Start for Foreign Tax Credit

This should clear your return but if perhaps the form is still in your return and flags it in Review, you can manually delete the form.

To Delete a Form go black menu bar on the left
Click on Tax Tools
Click on Tools
Under Other helpful links, click on Delete a Form
Scroll down and check for 1116 and 1116 Schedule B and if there is either, click on Delete
Click on the blue Delete Selected Form
At the bottom Continue
Repeat until all the forms are deleted
At the bottom Continue with my Return

This should remove all traces of the form and allow you to file without that error message.

When you come back to amend, this TurboTax Help article has step by step directions to amend your return. You will want to wait until your original return is processed before you submit the amendment. Amend a Return

from 1116 Schedule B

ihatetrbotax

Level 2

Thanks TT, now no matter what I do I have to enter in all my information again with another brand of software that supports this one form like OLT or TaxAct. How can you be a premium provider if you don't support a form that every other provider offers? I have no problem paying more for your service, but when you don't let us file and my only option is to wait to just file by mail, you really leave us no choice. Very sad that you have such little concern for your long time customers who have paid your premium prices over the years just to leave us high and dry. It is obvious you have no empathy for your customers or fellow Americans.

fsw

Level 2

I feel sorry for the TT tax experts, the frontline workers who through no fault of theirs have to deal with an issue in their development team. As a long-time TT customer, I still find tax time every year an exciting adventure; you never know if you may step on a landmine or two. That said, empathy is in order for TT as new requirements and tax forms pop up every year, and usually also late in the filing season so they have little time to react. The crux issue is not TT but why do we have such a complicated taxing system that gets more so with each passing year? The tax code is now what, 4,000+ pages long?

Whenever I feel like venting, I tell myself imagine filing my (relatively simple) return by hand these days. I can't imagine where to start and how long it will take. Hence, for me, software like TT is still a necessary tool in today's world, but if I were the TT management, I would show my gratitude to all the affected customers by refunding their purchases: "We are sorry for the inconvenience. We didn't like this either. So we are letting you use our product for free this year." Wouldn't that be a wonderful (and equitable) PR gesture?

Cctt

Level 2

LGB!

lgaines100

Level 2

You are correct. This is a new form and it is just as likely that no e-file is an IRS problem not Intuits'. According to the Federal Register, the IRS estimated that 500,000 filers will use the form. They will be drowning in new paper returns before they have dug themselves out of the 2020 paper returns which could not be e-filed because of identity problems. No point is amending after e-file as that also will take a year and generate more paper. The IRS is spiraling down into frozen puddle.

chaz128

Level 2

I had to use H&R Block's program because of this issue, which meant I had to start over. It took me a long time, but it was seamless, and they had all the forms I needed.

I highly recommend.

TT really dropped the ball on this one! Guess which program I am going to try first next year???

Doug1155

Level 2

To switch to H&R Block's software, how did you get prior years' info regarding Foreign Tax paid and taken as a credit and any carry-over. Looks like mine came from a couple of years ago. I've got an idea, but would appreciate hearing your experience.

lenwales

Level 2

Can I e file without form 1116

FLbillinboca

Level 2

yes, but it may cost you $

do you have carry over of FT?

usapayer

Level 2

I'm puzzled. I need to use 1116 (over 600 for married couple), but have no carry-over or carry-back, so will I need the new schedule B, which I gather is meant to supplement line 10, which is always zero for me? If I don't need the B attachment, why does system stall me here? I am required to file state electronically, so filing paper version is not an option--also for other good reasons. I hope the recent March 11 promise solves this. Also I wonder if this is only a problem with the online edition? I generally use the download, and in my rush to get started this year, I made the mistake of doing download, having not read completely my "notes to self." Longtime TT user.

larlava

Level 2

When will the Form 1116, Schedule B be released?

DoninGA

Level 15

@larlava wrote:

When will the Form 1116, Schedule B be released?

Form 1116 Schedule B, Foreign Tax Carryover Reconciliation Schedule will be available in TurboTax for e-filing on 03/11/2022

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

usapayer

Level 2

not yet. and i don't even need B, just 1116 because >$600, with no carryovers/carrybacks. I am reminded that often "tomorrow" sometimes means more accurately "not today." Best not to promise/predict what you aren't sure can be delivered. I have time to wait, though.