Pull Form 1116 from previous year?

[vgvj]

Hello:

Is there a way to pull Form 1116 automatically from the previous year to reflect the carryover amounts?  I am not claiming any credits this year; however would like to enter the carryover amounts for future returns. 

I forgot how I entered the Foreign Tax Credits from the past 10 years and having trouble figuring out how to enter the details again within Turbo Tax.  I was able to get to "Country Summary" page, however not able to figure out how to get to the page to enter the carryover amounts for the past 10 years. 

[DaveF1006 · Accepted solution]

If you are already at the Country Summary page, follow these steps to reach the specific carryover input section:

Continue past the summary: Click Done or Continue on the Country Summary page.

1. Navigate the "Other" screens: TurboTax will ask several follow-up questions (e.g., "Any Other Deductions or Credits?" or "Foreign Taxes Paid or Accrued"). Keep clicking Continue until you are almost at the end of the interview.
2. You will eventually reach a screen titled "Foreign Tax Credit Carryovers." Here you can enter your carryovers from each of the past 10 years.

[vgvj]

Thanks Dave.  I have entered the Carryover amounts.  However, when I go to the end to show all the Forms required for Filing, the completed Form 1116 is not showing up.  I am able to see the completed Form 1116 if I separately select the form to view.   I am concerned that the completed form 1116 will not be filed when I choose e-file through Turbo Tax. Please advise.

[DaveF1006]

There may be several reasons why it's not showing up

1. The "De Minimis" Exception.

If your total foreign taxes paid are below a certain threshold ($300 for individuals or $600 for married filing jointly), you are often exempt from the requirement to file Form 1116.

The Result: TurboTax calculates the credit and puts it directly on your Form 1040 (Schedule 3), but it "suppresses" Form 1116 because the IRS doesn't actually require it in this specific scenario.

2. The Credit vs. Deduction Choice

TurboTax defaults to the Credit (Form 1116), but if the software determines that taking an Itemized Deduction (Schedule A) is more beneficial for your specific bottom line, it will swap them.

The Result: Form 1116 stays in the background as a "workpaper," but it isn't included in the final e-file bundle because the deduction was used instead.

3. Carryover Only (No Current Year Tax)

If you are only entering Carryover amounts but have $0 in foreign taxes paid for the current year, and no current foreign income to offset, the form may be generated to track the carryover but might not be considered a "required filing form" for this specific year's return.

If you wish to have a copy of your carryovers, go to open form in your forms mode and type in 1116 Comp Wks. When it appears in the right pane of your screen, select Print at the bottom.  You can also print Form 1116 with the same method.

[vgvj]

I am facing scenario #3 in your response.  Q: In this scenario, don't I need to file Form 1116 as well to ensure the credits are available for my future returns?    Good idea to have the Form 1116 printed and saved at my end for future use. 

Thanks Dave.  Appreciate it. 

[AmyC]

No, you don't need to file the 1116. The 10 year carryover keeps ticking down. If you want to file, be sure the program knows you have the carryover. The program may ask if you want to file anyway. 

If it does not, in desktop, you can: 

1. Switch to Forms mode.
2. Locate the federal information worksheet
3. Scroll to Part VI
4. Check the box to file form 1116 even though not required

[vgvj]

In my Desktop Software, I was able to switch to Forms mode & Locate the Form 1116.  However, the form goes only till Part IV.  There is no Part VI?!  Please advise. 

[VolvoGirl]

She said to open the federal information worksheet, not the 1116.

[VolvoGirl]

I made you a screen shot

[vgvj]

Got it.  Great.  Thanks!

[turbotax2025user]

Clicking the Form 1116 option on the federal information worksheet did not generate Form 1116 in the PDF.  There is no Foreign Tax credit for this year but Foreign Tax carryover for 2025 and carryovers from previous years. 

How can I force Turbotax to generate Form 1116 ?

Thank you.

R