Missing 2021 Form 1116

[KMH-St Charles IL]

What is up with TT? Beyond frustrated that even after applying all available updates, Form 1116 is still NOT AVAILABLE on 3/3!  Holding up the filing of my return and my elderly mother's return which, except for missing Form 1116, have been ready to file for weeks now.  Beyond frustrated. So disappointed in TT - have never had this issue before and have been a dedicated TT user for decades.

[chopperman]

The delays and inability to efile with Sch B is a joke.

Emails sent to the Pres and voicemail left.
Refund request sent in for the Premier online DIY version.
Let's see what happens.
In any case, OLT.com was used and submitted and I'll be using that platform from now on.

[jaclee6]

when would turbo tax have form 1116 ready?  

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

it is showing it is available, but my turbotax software still think the form is not available??

[DoninGA]

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@jaclee6 wrote:

when would turbo tax have form 1116 ready?  

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

it is showing it is available, but my turbotax software still think the form is not available??

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Did you update your software?  Click on Online at the top of the desktop program screen.  Click on Check for Updates.

[Morris Bergen]

So apparently I'm in for another month delay because of Schedule B for the carryover.  That assumes there isn't a third mess up at that indeterminate future point.  My carryover is only about $30.  What if I just modified my form to eliminate the carryover?  That would be an error, but an error in the IRS' favor, so I assume that would be ok?

[JB86]

Good question. And if I do that, can I take the carryover in 2022 or do I lose it? 

[Anonymous]

According to turbo, I have to wait for program update again to file via paper due to 1116 schedule B credit carryovers. Do i have to wait for 3/31 (1116 sch b) to file my return ?

[chopperman]

Why wait?

Go to olt.com and file there. Forms available. It's free.

[Jeffery_H]

After this update, something still seems wrong with TT.  It finally let me finish the Foreign Taxes section, but didn't add 1116 to the forms. My taxes have always had a form 1116 in the past. I do see the tax listed on Schedule 3, like in the past. Maybe this is part of the reason it took so long for TT to get their software patched and 1116 isn't required in my case anymore, but I sure don't feel all warm and fuzzy about this.

[pidgarf]

This is ridiculous.  I am running (Released 3/2/2022) Program Updates - Install succeeded 3/3/2022 7:18 AM.

To enter the Foreign Taxes Paid, I:

Clicked on Federal Taxes

Clicked on Deductions and Credits

Clicked on I'll choose what I work on

Scrolled down to Estimates and Other Taxes Paid

On Foreign Taxes, clicked on the Start/Update button

Tell Us About Your Foreign Taxes

Check any that apply to the foreign taxes you paid for 2021.

✓ You have no more foreign taxes to enter other than those you already entered on a 1099-DIV, 1099-INT, 1099-OID, or a Schedule K-1.

✓ You have no foreign tax credit carryovers from earlier year or you have carryovers and you agree NOT to use them this year.

Do You Want the Deduction or the Credit?

Foreign Taxes

Your foreign tax credit is $xx.

Your election to take the foreign tax credit without filing Form 1116 is effective only for 2021 and doesn’t carry over to future years. If you are eligible to claim a foreign tax credit in 2022 without filing Form 1116, you must select again next year.

TurboTax states I am electing to take the foreign tax credit WITHOUT filing Form 1116, yet when I do the Federal Review, I get the "Tax Forms to Revisit" message:

This is just a quick reminder that we need to work on the tax forms in your return that were previously under construction. We’ve listed them below.

If your forms still aren’t available, we’ll help you complete them in the dates shown.

Form 1116 Foreign Tax Credit – Available 0

TurboTax states I am electing to take the foreign tax credit WITHOUT filing Form 1116 and Form 1116 states "FORM NOT REQUIRED TO BE FILED" at the top.

I don’t even need Form 116, but I still cannot file my return until TurboTax fixes this. Would someone at Intuit please advise if it's okay for me to simply ignore the "revisit" request. ?

[Anonymous]

You are correct, the credit gave me approx $500 more in return which is more than a cup of coffee. I have to wait for March 31 for paper file 

[Chas56]

Here, here, after posting my question, I went back to the step-by-step guidance, Federal Taxes/Estimates and Other Taxes/Foreign Taxes and hit "update." I put in the required info and wham, bam, thank you ma'am, everything was hunky dory! My taxes are now filed with the Form 1116 with my credit.

Thanks to the pros - no need to give up on TurboTax - still a great tax program!!!

[Midpack]

Well I got the update today, and it no longer says DO NOT FILE, but TT is not figuring the carryover like it has every year before? When I run Smart Check it tells me there's a carryover, but it doesn't complete the worksheet or the Form 1116. Is the update correct, or will there be another? I don't want to make direct hard entries into the Form 1116, and haven't had to in the past. I have the Premier version if that matters.

[whodiini]

Whenever there is an update or new form, you need to go back to the interview section and go thru it step by step again.  Otherwise it doesnt update the forms.  It sounds like after the update, you just tried to do the smart check and not go thru step by step.  Turbotax does not go thru the entire return each time there is an update.

That is why I am irritated that Turbotax does not provide for each update, what changes have been made.  That forces the user to have to go thru the entire interview to make sure that the return is correct. I go thru each form to make sure they are correct, which defeats much of the advantage of Turbotax.  If this is incorrect, it would be nice to have a turbotax rep provide advice how to make sure the return uses the latest update corrections if turbotax doesnt tell the user what changes have been made!

[rifi]

Excellent point, whodini.
I’ve observed the same problem.

Over at Bogleheads.com, in the current discussion on 1116, forum member talzara observed:

‘Intuit is good at dark patterns, marketing, and lobbying. Intuit is bad at software engineering, and Form 1116 is one example.”

https://www.bogleheads.org/forum/viewtopic.php?t=366971