Hi - I am using TurboTax Online 2022, and have opted for Foreign Tax Credit (thus filled form 1116). At the end, before filing my taxes, when I go to the Print Center and look at the tax return, then unlike the previous years, the tax return doesn't have the 'Foreign Tax Credit Carryover Statement' for both general and passive income. This statement has always gotten generated, and I am not sure why it isn't being generated now in 2022. Would anyone know how I can get TT to get this generated?
Thanks.
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The foreign tax credit carryover statement was replaced last year by the new Schedule B, which should be showing up in your PrintCenter list as “Form 1116 Schedule B Foreign Tax Credit.” It provides for detailed tracking of the carryovers in a format customized for the IRS system.
The actual name of the form is “Foreign Tax Carryover Reconciliation Schedule,” and here’s what it looks like. If you’re not seeing it, @souzem, then we have an entry or technical issue (which we’ll also be happy to address here in the Community, if you let us know...).
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