Missing 2021 Form 1116

[waggett]

I may have to give serious thought to trying the H&R Block software next year, there's no acceptable excuse for the blatant disregard TurboTax is showing for our needs in this matter. It is clear that US citizens who pay foreign taxes do not matter to the people who run this company.

[dafcpa]

I updated the Turbotax this morning 2/17/22 and I still get an error message saying the Form 1116 is not available yet.  Went on IRS.gov and the 2021 Form 1116 is available.  When will Turbotax put the Form 1116 in their tax package?

[dafcpa]

In addition to H & R Block being more up to date, their premium software package is considerably cheaper than Turbotax.  I'm seriously considering changing and I'm someone who started using Turbotax when it first came out, was independent and still based in San Diego.

[993C4]

Comparing forms availability between H&R Block and TurboTax for the Mac download versions:

TurboTax shows about 130 available out of 152 total at https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_mac_individual.html

H&R Block shows about 152 available (including Form 1116) out of 163 total at https://www.hrblock.com/tax-software/updates-back-editions/fed[product key removed]able.html

The Form 1116 PDF on irs.gov shows it was created 12/14/21

[doc_wooster]

And I don't even need to file a Form 1116, because my foreign tax credit is only $55. Intuit should be smart enough to put that into the program and let me waive it. Well, it 2/17 and tiday is the day they promised the update,

[jmztt]

Feb 25 is the new date for form 1116 per the TurboTax web site. Will have to wait to see if that date is reliable 

[bill-orange]

I understand that 2021 form 1116 will be available around 2/25/2022.  That's fine. 

However, my foreign tax is only around $120, well under the $600 threshold for needing this form.  Is there a way around filling it out for people in my situation?  Will TurboTax be revised to bypass this form for amounts under $600?  Presently, the program seems to demand form 1116 regardless of the amount of money involved.

[ThomasM125]

@bill-orange You may be able to delete the form 1116 if you think you don't need it in your tax return.

A simple way to delete forms in TurboTax online is to use the Tax Tools menu option, which is on your left menu bar when you are working in your program. Then, choose Tools and then Delete a form. Find the form 1116 in the list and delete it.

If you are working in the download TurboTax program, use the Forms Mode on your menu bar to bring up the form you want to delete, then choose the Delete Form option at the bottom of the form.

[doc_wooster]

My foreign tax credit was  $55, and Form 1116 was not required. I got the message saying Form 1116 was not available and TurboTax generated a Form 1116 with a red "DO NOT FILE" at the top. I also updated Turbotax after I exited.

OK, I followed the above advice to delete Form 1116 (at the bottom of the form in the CD version) and went thru the dialogue again. This time, it told me that I could file w/o it, with the usual caveats like no carryover, etc. No further dialogue was requested.  I now believe I can go thru to the end and file tomorrow.

[dafcpa]

I double checked the IRS instructions and a Form 1116 is not required if the tax was less than $300, single and $600 double.I just made sure Line 1 of Form 1040, Schedule 3 was filled in with the withholding and electronically filed the return.  Went through fine.  Why does Turbotax say you need the Form 1116 when you don't?  I'm really getting fed up with Turbotax.

[993C4]

Can't answer your question about TurboTax requiring an unnecessary form, but have encountered the opposite problem where TurboTax fails to file a necessary form.  Even though TurboTax automatically completes an AMT version of Form 1116 it doesn't file it if you don't owe AMT.  But when you carry forward or back a foreign tax credit IRS requires the 1116 AMT calculation.  I have worked around this by e-filing, then submitting an amended return just to include the 1116 AMT, but it would be easier if there was a way to include it when e-filing.

[DesertRatJim]

No way I would purposely file an unnecessary amended return. Still waiting for them to process one I filed last March with two very minor corrections. IRS is backlogged forever. 

[MamaDeerinSnow]

Okay, I just looked back over my return, which now passes review.  Like others on this string my foreign taxes  paid were well below the limit (exactly $2 from one source, in fact).  The 1116 is marked DO NOT FILE, and there is a now worksheet right after the form that includes a "Form 1116, Line 18 Adjustment Exception Smart Worksheet" that indicates a) the amount is well below the limit and c) qualifies for the Line 18 adjustment.

So, my conclusion is that whatever TT may or have not done, it has now done the right thing on my return.

[bill-orange]

That's really interesting.  MY TT is still showing Form 1116 as not available with a available date of '0'.

Were you subject to AMT?  I am using TurboTax Home and Business ver. [phone number removed].  How does that compare to your TT.

*EDIT* It thinks the version number is a phone number. ZeroTwenty one period four zeros followed by four hundred sixty one.

[DoninGA]

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@bill-orange wrote:

That's really interesting.  MY TT is still showing Form 1116 as not available with a available date of '0'.

Were you subject to AMT?  I am using TurboTax Home and Business ver. [phone number removed].  How does that compare to your TT.

*EDIT* It thinks the version number is a phone number. ZeroTwenty one period four zeros followed by four hundred sixty one.

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Form 1116, Foreign Tax Credit for tax year 2021 is estimated to be available for e-filing on 02/24/2022

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html