Missing 2021 Form 1116

[RudyG1]

Tomorrow (3/3) according to their web site.

[Dave200]

Don - test this for yourself. I just asked about 2021 Form 1116 missing, and "Best Answer" is way out of date. No wonder people keep asking the same question over and over.

[DoninGA]

---

@Dave200 wrote:

Don - test this for yourself. I just asked about 2021 Form 1116 missing, and "Best Answer" is way out of date. No wonder people keep asking the same question over and over.

---

Good catch.  I cannot make any of my posts as a Best Answer so someone else selected it on that post from awhile back.  Just edited the answer to reflect the current 03/03/2022 availability date.

[Nabih]

I am using TurboTax premier om my Windows 10 laptop and got hung up on completing form 1116, foreign tax credit. TurboTax keeps telling me that the IRS has not finished preparing this form. i have used TurboTax for over ten years and have never seen this before. Today is March 2cd. Does anybody know if this is a bug in TurboTax Premier?

[Aerobach]

I was given the error message for Form 1116 also.  After going to the TurboTax forms availability site, I saw that the form wouldn't be available until Feb 17 (even though it was available on the IRS site).  So I waited.  Then the date changed to March 3 - so I waited.  Now I see that the date changed to March 31 -- AND THE FORM WILL NOT BE SUPPORTED FOR E-FILE !!!!!!   SO NOW I HAVE TO PRINT OUT MY FORMS AND CAN'T E-FILE ????????   

TurboTax -- You have just lost a loyal customer who has purchased and used your product for over 15 years.  Why did you take away this functionality and why did you string me along (hold up my filing) for over a month - and then take away my ability to efile my return?

VERY UPHAPPY !

VERY DISSATISFIED !  

[DawnC]

It isn't.  The Foreign Tax Credit Form 1116 is not available in TurboTax quite yet.   That date it will be available depends on whether or not you need Schedule B of Form 1116.  Schedule B (Form 1116) is used to reconcile your prior year foreign tax carryover with your current year foreign tax carryover. 

Form 1116 without the Schedule B is tentatively scheduled to be finalized on 03/03.    Form 1116 with Schedule B is tentatively scheduled for 03/31.   If your return does not contain the Schedule B Form 1116, which is used to reconcile your prior-year foreign tax carryover with your current year foreign tax credit carryover, you should be able to e-file after 03/03.  The links are to the full list of available TurboTax forms.  

@Nabih

Options for avoiding double taxation

To avoid double taxation on Americans living abroad, the IRS gives them a choice:

• Deduct their foreign taxes on Schedule A, like other common deductions.
• Use Form 1116 to claim the Foreign Tax Credit (FTC) and subtract the taxes they paid to another country from whatever they owe the IRS.
• Use Form 2555 to claim the Foreign Earned-Income Exclusion (FEIE), which allows those who qualify to exclude some or all of their foreign-earned income from their U.S. taxes.

[DoninGA]

@Aerobach The Form 1116 is still showing as being available on 03/03/2022

What you are referring to is the Form 1116 Schedule B, Foreign Tax Carryover Reconciliation Schedule which will not be available until 03/31/2022 and can only be printed, not e-filed.

IRS Form 1116 Schedule B, Foreign Tax Carryover Reconciliation Schedule - https://www.irs.gov/pub/irs-pdf/f1116sb.pdf

IRS Form 1116 Schedule B, Foreign Tax Carryover Reconciliation Schedule instructions - https://www.irs.gov/pub/irs-pdf/i1116sb.pdf

[MamaDeerinSnow]

A great functionality that I would like to see Turbotax add is the ability to opt out of notifications about new replies for strings like this, which provide no new information or insights.

[robertm16]

Hi, this is indeed disappointing and quite disruptive..  In past years we were able to complete our taxes early and e-File even with carryovers!  Now we get these delays in the base 1116 form, the form with Sched B for carryover is repeatedly delayed, and it will not be available for e-Filing.  

[Dkden]

the website has been updated and now says that form 1116 and 1116 for AMT are “available.”  So, it looks like the forms will be in the next update.

1116 Carry-over is still 3/31 and no e-file supported.

[bobp55]

@Dkden - The page says available, but the software still comes back with the same message that it's not available yet. I even did an online update to make sure. So it's still not working. 

[DoninGA]

---

@bobp55 wrote:

@Dkden - The page says available, but the software still comes back with the same message that it's not available yet. I even did an online update to make sure. So it's still not working. 

---

The software will not be updated until sometime between Midnight and 6am Pacific time on 03/03/2022

[robertm16]

Correct, there is no 1116 update to the software available yet.

The lack of handling carryover (Sched B)  is worse than it sounds.  For anyone who has ever had a carryover, even if they used it up years ago they will likely forever have an AMT-carryover that will likely stick around until you have an AMT year that might use it, if ever.  Hence we are locked out from even completing our taxes until a now 3/31 expected date, and given past performance (repeated slips), when if ever will it arrive?  The 1116 and EIE interactions are complex and need a lot of iterations, and so leaving this to the last moment is very harmful and will create problems for many.  Then you have to print and file manually.  For me I am now totally stuck since due to travel, there is no way I can meet the filing date.

Turbotax, please speed up arrival of 1116 Sched B, this repeated let-down is really unacceptable!!  And work on e-File like you used to provide!

[jmztt]

As of 7pm east the TurboTax web site does not state 1116 is available. It still says 3/3 as estimated availability. 

[Anonymous]

The online version is working already