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@carllaline wrote:
agreed - rather than saying "available soon" (i've been continually checking back since late January) it should just give us an approximate date, and then just update the date if the timing slides.
Form 1116, Foreign Tax Credit for tax year 2021 is estimated to be finalized and available in TurboTax on 03/03/2022
Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html
I am trying to search this issue, and found this thread, initially the reply was on 2/17, now 3/3, any concrete date? As others were suggesting, the IRS form was ready a few weeks ago, but software keeping saying IRS is not releasing yet, which is misleading information.
Thanks.
now showing it won't be available on turbo tax until 3/3 RIDICULOUS!
If your tax withheld meets certain criteria, you do not need a Form 1116, contrary to what Turbotax says. You can also file your return through Turbotax and get the full credit. Take a look at the IRS instructions for Form 1116 under requirements to file. But you are still correct. Ridiculous. Next year I'm trying H & R Block.
I was able to get around this issue. If your foreign tax is <$300 ($600 for MFJ), then Form 1116 isn't required. Still don't get why TT doesn't take care of that automatically. I have a large refund coming and didn't want to wait until 3/3/2022 (latest update) for the form to be available. So I started working through the 1116 worksheet manually. You can work directly on forms and worksheets -- it's under the View menu item. It was a bit daunting, so I gave up and deleted the worksheet (not the form), Then I thought what the heck...and tried to submit anyway. It worked! Clearly there is a programming error that Intuit needs to sort out...
jamsklein, by your method, one can also delete Form 1116 with the 1116 Worksheet, and still be error free.
Well its 2/18/22 and Turbotax still hasn't fixed this issue. Every day Intuit can't get it together costs me money as I owe a lot of tax due to capital gains, and the penalty goes up. Not happy, I regret using Turbotax.
Something is REALLY STRANGE here. The form is available now from the IRS but TT now says I cannot file till mid March since my foreign tax credits require it.
Why am I paying for TT if they cannot get something this simple done?
@DoninGAYou should take the "answer" tag off your comment since it's been delayed until next month and your answer is no longer correct (esp since we are now past the 17th anyway). Intuit is giving a date in March now: https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html
looks like this form has been available on irs.gov for several weeks now. anyone know why it's taking TurboTax so long to update the software? last estimate i saw of when this would be available was 2/25/2022.
@ambanmba The answer tag on this thread was chosen by some other user on this thread. The poster of a message cannot chose their own message as the answer, so I cannot change it.
Now the link says the form won't be ready till 03/03. How hard is it to download the PDF, scan it in as a form, and post it to our application? I've used Turbo Tax for decades and this year by far is my worst experience. Turbo Tax needs to pull this date in and get the job done now, or they should expect to lose customers next tax season.
Not exactly the same as the capital gains tax, but my return is going on my solar loan and the interest is costing me money since I cannot pay it down as planned waiting on this stupid form.
It's now 2/19/22 and Turbotax still has the message that the "IRS is still working on finishing up" Form 1116. I agree that the IRS has had this out for awhile, but TurboTax doesn't have the nerve to honestly say that the issue is on their end. And now I get the reminder to file before 2/28/22 to get the reduced fee. Oh, how convenient for TurboTax to drag their feet on updating their software and force customers to miss the reduced fee deadline. First, they lie about where the problem truly resides and second, they don't extend the reduced fee deadline.
CORRECTION....I just checked the link for wehn the forms will be raedy on Turbotax and now Turbotax is saying From 1116 will be ready on 3/3/22. So much for Turbotax staying true to their promise.
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