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R2001
Returning Member

Form 1116 wks value not reflected on form 1116 schedule B

This looks like a plain bug in TurboTax Desktop. Hopefully someone from Intuit will see it.

 

The worksheet for form 1116 has a table for FTC carryovers, and a table to make adjustments to those values.

 

According to the instructions on the form, "new adjustments are those not included on sch B form 1116 from the previous year" 

 

I had to amend Y22 return and as a result the carryovers from that year changed. When using the FTC carryover adjustment table to make the adjustment (column c), the changes are reflected on the new Sch B (1116) lines 2c and 3. It also updates line 4 (FTC used in current tax year)

 

However, the values do not propagate to the form 1116 itself. Form 1116 line 10 says the value comes from sch b line 10, but it still uses the value form line 1 instead (before the adjustment). That means the adjusted value is not used for this year FTC, and the new Sch B for next year says it was used.

 

Using the questionnaire to do the same thing makes no difference, as expected.

 

Note that directly modifying the carryover table works as expected, but the Sch B ends up with values in the wrong places.

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