Missing 2021 Form 1116

[DesertRatJim]

Yes, but the penalty is accruing daily interest until I file.  How hard can it be to add this simple a form?

[DoninGA]

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@DesertRatJim wrote:

Yes, but the penalty is accruing daily interest until I file.  How hard can it be to add this simple a form?

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What penalty?  Taxes owed on a 2021 tax return are not due until April 18, 2022.

[DesertRatJim]

The one Turbotax is calculating because my withholding amount was not within 10% of what I owe.  First time I've ever run into it.

[DoninGA]

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@DesertRatJim wrote:

The one Turbotax is calculating because my withholding amount was not within 10% of what I owe.  First time I've ever run into it.

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That is an Underpayment penalty based on the tax payments that were made in 2021.  It is calculated on Form 2210 and entered on your 2021 tax return as a penalty.  Interest is charged on the underpayment starting on the due date of the taxes owed.

Go to this IRS website - https://www.irs.gov/payments/interest-on-underpayments-and-overpayments

[DesertRatJim]

Thanks.  That should give me breathing room...

[rifi]

Turbotax still says " ... the IRS is still working on finishing up Form 1116"  to explain why this form is not available today (2/14) on Turbotax.

But that is not true, nor has it been true for the last 3 weeks - as detailed by previous posters here.

The problem lies with Turbotax.

Can not Turbotax devote sufficient resources to take care of this in a reasonable timeframe? I suspect it easily can, but is not willing to do so.     $$$  

[alsn]

The page you linked to says that it will be available on 2/24/2022.

[MamaDeerinSnow]

Go to https://www.irs.gov/forms-pubs/about-form-1116.

Seems like this issue has been resolved???

[DianeW777]

The form has been released in final form by the IRS.  TurboTax will have this available as indicated on February 24th and the IRS should be ready to receive it through e-file.

Continue to check the availability of the federal forms depending on whether your are using TurboTax Online or TurboTax CD/Download version.  Usually the release date is the same, although on occasion there is a difference.

• IRS Forms availability for TurboTax
• State Forms availability for TurboTax

[JimTomato]

Form 1116 has been delayed another week until February 24, 2022 from February 17, 2022. This is my last year using TurboTax because of this missing form business in the last several years. I find it interesting that TaxCut (H&R Block) had this form available in January 2022 shortly after it was released by the IRS. Anyone who has an international stock mutual fund will need this form so as to claim a foreign tax credit so they are not paying U.S. taxes on top of foreign taxes. Clearly, the folks at Intuit do not understand the importance of this form to many investors.

[JimTomato]

The date has been pushed back another week from February 17, 2022 until February 24, 2022.

[jmztt]

The form 1116 delayed again New date Feb 25

[DoninGA]

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@jmztt wrote:

The form 1116 delayed again New date Feb 25

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Form 1116 for e-filing is still 02/24/2022

Form 1116 for printing is 02/25/2022

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

[lisarowe1976]

I'VE BEEN A LOYAL TURBOTAX CUSTOMER FOR YEARS, BUT BECAUSE OF THIS POOR SERVICE WITH THIS DELAY, I'M RECONSIDERING MY OPTIONS!!!

[JimTomato]

H&R Block has excellent tax software as an alternative to Turbotax. It is rated just as highly by the software industry reviewers. I have definitely made up my mind to switch to H&R Block's software for tax year 2022. In fact, if Intuit delays Form 1116 again from February 24, 2022, I will be purchasing the 2021 version of H&R Block software and completing and filing my 2021 taxes using it, not TurboTax.