Form 1116/Foreign Tax Credit schedule B Carryover

[Taxlax]

It appears TurboTax Deluxe 2022 CD, does not show Schedule B Foreign Tax Credit carryover as well Currency in which it was received.  In past without this information tax returns have been rejected. Hope Intuit remembers this problem and corrects it quickly.

[hbl3973]

Taxlax,

I'll forward this issue.  Thanks for bring it to attention.

[Taxlax]

Thank you.

[hbl3973]

Good news!  They are digging into your issue.  In the interim you might find useful the following:

Please see: Claiming the Foreign Tax Credit with Form 1116  states "You should convert all amounts you report on Form 1116 to U.S. dollars, except where otherwise specified. The conversion rate you use should be the rate in effect on the day you paid the foreign taxes or the date they were withheld. If you choose the accrual method, you generally use the average exchange rate in effect during that tax year."

Also, see:

•  How do US taxpayers living and working abroad report their income? 
• Where do I enter the foreign tax credit (Form 1116) or deduction? 

[Taxlax]

In the past, there used to be a statement attached to 1116 form with headline:  "Additional information from your 2020 (for Tax return 2020) Federal Tax form 1116"

1. Explanation: Foreign Currency Taxes withheld on Dividends: Paid in US Dollars.

2. Other Foreign Currency Taxes Paid/Accrued: Paid in US dollars.

3 Form 1116 Foreign Tax Credit: Line 10:Carryback/Carry over-----Information.

 I am not asking how to convert  or report conversion of currency. I believe above statement needed for completion of this aspect of tax return, which is not seen on current 2022 Deluxe CD Program.