Form 1116 AMT and Schedule B 1116 AMT doesn't appear in Form tree in left hand Pane.Not able to print also.It is 2022 premier dektop.Generating form but still same

[Raytam]

Form 1116 AMT and Schedule B 1116 AMT doesn't appear in Form tree in left hand Pane.Not able to print also. Generating the forms but still it won't appear in form tree on last hand pane.I am trying to file 1116 AMT and schedule B 1116 also though I am not subject to AMT  this year the generated  1116 AMT shows AMT FTC and schedule B AMT shows HUGE  Carry over of balance for this year. But after the generation forms won't appear in form tree later  and disappear.I understand unless I file these two forms I will not be able to take offset of AMT taxes for future years.How can get these forms in form tree .(Please don't say just generate--I did but they vanished later and I can NOT even able  print the generated forms ).
Why TT won't allow us to include these forms in the form tree so that they can be filed too though this year not subject to AMT,filing these will be useful to offset future AMT taxes.With out filing these forms I believe I RS will not  have record of this year AMT carry overs and they will not allow to input in next year return with AMT  record with back date.
Experts of TT please advise.

[Anonymous_]

I will page @pk to see if any input can be added.

[pk]

@Raytam , having read through the above post, I am not sure I understand the concern for the future years.  If you are not paying AMT taxes  ( i.e. incremental to your normal taxes due ), there is generally NO AMT credit  whether  this is dealing with foreign taxes or domestic taxes.  As I understand form the post the AMT forms  are   perhaps being deleted because the taxpayer's income is below the threshold  or because the taxes being levied is higher than the AMT computed taxes.   So without actual figures , I have no way of knowing whether TurboTax is mis-behaving  or not.  Please could you provide more details of the situation ( figures) so I can run these on my copy of Home& Business TubroTax for Windows. --- please

pk

[Raytam]

Hi pk,

Thank you very much for your response. I appreciate.

I will summarize as below (since there are lot too many figures of minor values  to give) 

So Just to check the bottom line–

All these years when ever(few times) I have FTC, it is not much and this issue of AMTFTC has never came up.

This year as one time affair--I had considerable(passive) Foreign property LTCG as lump sum.

(This was input in form 8949 and Sch D ,Form 1116 ,calculation other method, no AMTFTC adjustments).

The other income is modest and main thing revolved around FTC.

Just I will summarize scenario of 6251 relevant essential points--for your kind review whether TT premier desk top/IRS policy allows skipping forms 1116 AMTFTC and Sch.B of 1116 AMT.

Form6251–

Line 7--2326$(since it bases on LTCG calculation ),Line 8--2124 $, Line 9 is 202$, Line 10 is 2634$ and Line 11 AMT is 'zero' $.(Line 7 is less than Line 10)

(Of course, Form 6251 shows up in the forms tree but finally in preview--for forms’ required for FILING--it is dropped off by TT)

Does this mean it is not mandatory not to include form 1116 AMTFTC and Sch. B of AMTFTC from IRS point of view and TT point of view?

If it is mandatory why TT is not allowing these forms to be included?

Even if it is not mandatory, since AMTFTC shows up in 6251,and since AMTFTC means there is some thing in Carry over also, is it not better include form 1116 AMTFTC, and sch B.

and form 6251 too--as this will help IRS to know there is left out AMTFTC credit for adjustment for future years which we can claim, in case

If it is case how to get the forms on board?

Please share your thoughts.

Thanks again.

[Raytam]

For got to mention .Mine is Std. deduction 27,300.No deductions or adjustements.

Thanks

[Raytam]

Hi Pk,

If any more particular  details are needed please let me know.

Basically I am checking how TT can make  it happen as this may be needed even when 6251 AMT is 0 but IRS wants a record since there are carryovers for AMT FTC will exist.

Hope you had a chance of reviewing my previous note.

Thanks.

[pk]

@Raytam  I have read through your note but need to work through the scenario.  Please give a day to come back to you.

One thing surprises me  is that extraneous  forms and worksheets  ( those that are not mandatory for filing) are still shown on the  print menu  " as all worksheet and forms " --- but you seem to suggest this is not so.

Will be back 

pk

[Raytam]

Just to share some things about simulating the above. if it helps

1)In forms Preview I selected ' All forms required for filing' .These are forms ultimately e filed by TT and all other forms sits in drive I believe. In that option 6251 or 1116 AMTFTC or Sch. B are absent.

In the tree on left only 6251 will be appear(again not preview) and form 1116 AMTFTC or sch. b doesn't  appear.

2)As simulation purpose, from my side I tested with possible values of gross in the range of 120K to 199 K

to see the behavior. It is same. I have not gone beyond that.

Thanks

[jfzhang8866]

Hi,

I got the same issue, have you solved it?

JF

[Raytam]

Nope.

TT didn't solve

[Mike9241]

did you properly elect the simplified method for AMT FTC? Then there won't be an 1116 AMT because the FTC credit will be the same. 

[Raytam]

Thanks Mike.

But yes! selected everything as per specifications. None resulted.

Surprisingly --under simulations to test--ONLY after VERY  LARGE  INCOME (way  way beyond  multiples of Hundreds of Ks)  it shows --Even when income beyond threshold it didn't appear.(I gave up finally)

Another major flaw I git for 2022,2023 was --The FTC and AMT FTC credit carry forward--For Calendar Year is not appearing in PDF doc.  and year is blank.

 Tried and brought the issue to boards--But no avail.

YEAR is crucial for getting the credits carry over correctly.

(you can check this -in desk top--did you the get it?)

So--I had to abandon sought alternative for filing.

[Raytam]

Just add : My income for that year was just above AMT threshold and no FTC AMT forms shown 

and FTC carryforward forms dis not populate the year.(just blank).

The paid Tax preparers software has  shown both--AMT FTC forms  for same income  and also years populated correctly for carry forward FTC forms. 

[mdsaronson]

Hi @pk ,  I have had the same issue.  Super frustrating.  The forms are there despite the fact that they neither show up in the Forms in My Return list nor do they print even if you select all records.   I realized this only after viewing the Form 6251 (AMT) , line 8 (AMT foreign tax credit) and then clicking on the magnifying glass, which brought up links to the 3 Form 1116 AMTs.

The only solution I found is to use the "open form" button, manually select Form 1116 AMT and it will list the forms it is using (in my case 1 for each of General Category, Foreign Branch and Passive Income), select print and then add to return.  I did this for each of the Form 1116 AMT and separately for each Schedule B to the Form 1116 AMT.  

Would be great if they could sort this out for next year.