Missing Forms 1116 needed by 1099-DIV
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Returning Member

Missing Forms 1116 needed by 1099-DIV

I imported data from 2 brokerages and both have 1099-DIV forms. There are 3 1099-DIV forms and all have foreign taxes paid entries. Only one Form 1116 and worksheets was created automatically which I linked in the corresponding 1099-DIV. What happened to the other 2 forms  and how can I get them created automatically? I do not file Schedule A so the form 1116s are needed. 

 

In 2018 all 3 Forms 1116 were created. The taxes paid are approximately the same as 2018 so they should have been created for me this year.

 

thanks

4 Replies
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Level 8

Missing Forms 1116 needed by 1099-DIV

TT will generate initially one f1116 when it sees foreign tax paid greater than the exemption.  The number of f1116's that are needed is determined by how many distinct foreign countries withheld taxes, not the number of 1099's and each f1116 will accommodate 3 countries.  If there are more than 3 countries, TT will generate additional f1116's as needed during the foreign tax credit interview.

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Returning Member

Missing Forms 1116 needed by 1099-DIV

All three 1099-DIVs are RIC or "various". The f1116 is for one broker only and does not include the data from the other two which were issued by a different broker. My 2018 taxes included 3 f1116 forms, one for each 1099-DIV. 

 

Is there a way to force it to create a f1116 even if not needed? Can I link to an empty f1116 and force it to import the data?

 

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Level 8

Missing Forms 1116 needed by 1099-DIV

I don't know how to do what you are trying to accomplish.

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Returning Member

Missing Forms 1116 needed by 1099-DIV

The correct answer is "don't worry about it" and continue on. Near the end of Deductions and Credits TT notices the orphaned 1099-DIVs and asks some questions, then adds those values to the existing form 1116. Now all 1099-DIVs are accounted for and the error flags has gone away and there is only one form 1116, unlike my 2018 return.

 

It seems odd to me that part of the work is done after importing the data and part is done much later in the interview. Feedback from the error flags stating that the issue will be resolved in Deductions and Credit section would be very helpful. 

 

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