Last year there was a 'Foreign Tax Credit Carryover Statement' generated as part of the tax return. This year I don't see this statement. It is not required anymore?

[Anonymous]

Is form 1116, schedule B: 'Foreign Tax Carryover Reconciliation Schedule' comes instead of the 'Foreign Tax Credit Carryover Statement', so TT dropped it for 2022? 

[RalphH1 · Accepted solution]

Yes, the IRS’s new (as of 2021) Schedule B made the extra statement obsolete, as it provides for detailed tracking of the carryovers on a form customized for their system. So all you’ll normally see is the 1116 itself, Schedule B, and the “1116 Comp Wks” (which is like a duplicate 1116, but with extra behind-the-scenes details from your entries included). Definitely nothing to worry about, Rotem!