Form 116 Schedule B - Getting it down now - even if it is wrong

I understand that TurboTax that Form 1116 Schedule B is not going to be available this year for electronic filers. In the last two years, I have not paid any foreign tax but I do have a foreign tax credit carry over from several years. As such, TurboTax says that I should file Form 1116 Schedule B. However, I cannot do this if I use TurboTax. Is there a way I can tell TurboTax to throw away the credit so I can file now? If so, how?

207

Level 9

Mar 5, 2022 1:30:09 PM

Here is a suggestion that might work. Bring up the form 1116 worksheet. Scroll down to the bottom to the carryover section and delete all the entries for TY2020 that were carried over to TY2021.

Why sign in to the Community?

Form 116 Schedule B - Getting it down now - even if it is wrong