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AMT Form 1116

Even though my 2023 Federal Return shows a different AMT FTC carryover than regular FTC carryover, there is no AMT Form 1116 form or worksheet in my tax documents supplied by Turbo Tax. I want to access these so I can see why there's a different AMT FTC utilized for my 2023 federal tax return than for regular tax FTC being utilized. Thanks.

 

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2 Replies
JotikaT2
Employee Tax Expert

AMT Form 1116

Assuming you are using TurboTax desktop, you can preview the Foreign Tax credit carryforward from 2022 and see how much is utilized in 2023.

 

Log back into your program. 

  1. Select File.
  2. Select Print.
  3. On the form selection pop up screen, select 1116 Comp Wks.  If you do not see this option, select Specific Forms, and then Forms and supporting statements.
  4. Scroll down and check the box to the left of Form 1116 - Foreign Tax Credit Comp Wks.
  5. Select Preview Print Copy.
  6. This will pull up another window which will display your worksheet for the foreign tax credit. Page 3 will show your carryovers from 2022.  Page 4 will show your current year information as well as the breakdown of the amounts used in 2023, if any, as well as the amount that will be carried forward to 2024.
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AMT Form 1116

Thank you for that thorough explanation, Jotika T2. MUCH appreciated. 🙂

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