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

[RobertB4444]

In order to generate the 1116 that you don't need this year you should enter a large foreign tax credit.  

In the 'Deductions and Credits' section of your federal return scroll down to 'Estimates and Other Taxes Paid' and click 'start' next to 'Foreign Taxes'.  Enter a few hundred bucks in taxes paid to whichever country you want to enter.  This should generate the 116 you're looking for.  Check it over and make sure your carryovers are there.  Then go back to the foreign tax section and delete the foreign taxes that you entered there.

[turbotax2025user]

Putting a large amount for Foreign tax did not work to generate Form 1116.  Please open a bug report.

1.  I have a large carryover from previous years.

2.  I have a <300 foreign tax for 2025

3. The foreign tax credit for 2025 is 0.

4. In View Forms,  I can see the Form 1116 worksheet.  I have entered prior years carryover manually.

5. I would like to file my return electronically.

6. When I ask Turbotax to generate a PDF for review,  Form 1116 or Form 1116 worksheet is not generated in either "Forms for Filing or All calculations worksheet".

7. I have selected "File Form 1116 even if not needed" option in the Federal Information worksheet.

I found Turbotax rules on Form 1116 below.   It says I should be able to force Form 1116 generation by selecting the option in the Federal Information worksheet.

Thank you.

R

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Here are the rules per TurboTax Desktop.

RULES FOR FORM 1116 AND HOW THE PROGRAM DETERMINES WHETHER OR NOT FORM 1116 NEEDS TO BE ATTACHED TO THE RETURN

Many people will be able to claim the foreign tax credit without actually completing Form 1116. This is an election that can be made if ALL of the following are true:

* All the income must be in the "passive category income" category of income.
* The total amount of creditable foreign taxes is $300 or less ($600 or less if married filing jointly).
* All of the creditable foreign taxes are shown on a payee statement (1099-INT, 1099-DIV, Schedule K-1, etc.) furnished to you.
* Any excess foreign taxes paid or accrued in another year cannot be carried into or out of the current tax year. (Even if there was a carryover from a previous year that is eligible to be claimed in the current tax year, it can't be claimed in a year where the election is made to NOT complete Form 1116.)
* You are not filing Form 4563 or excluding income from sources within Puerto Rico.
* Any dividend income from shares of stock are from shares held at least 16 days.

The program will automatically make this election if all of the following are true:

* The total sum of foreign taxes entered on Forms 1099-INT, 1099-DIV, the Schedule K-1 Worksheets, and any manual entries made on the 1116 Computation Worksheet lines 8p and 8r1 doesn't exceed the $300/$600 limit.
* If there is a foreign tax amount on a Schedule K-1 Worksheet, the category of income selected is "passive category income".
* If a category of income box is checked on any Form 1116, the category checked is "passive category income".
* If a category of income box is checked on any Form 1116 Computation Worksheet, the category checked is "passive category income".
* There is no amount entered on the Federal Information Worksheet for "Excludable income from Puerto Rico".
* There is no foreign tax credit carryover from another year that can claimed in this year.

If any of the following are true, you may wish to NOT have the program make the election for you:
* If any foreign taxes that you are claiming a credit for weren't reported to you on a payee statement (you MUST file Form 1116 in this situation), or
* If you can't claim all of the foreign taxes as a credit against your taxes this year because your tax is smaller than your credit, or
* If you paid foreign taxes on income that can't be marked as foreign income within the program (for example, pensions or rents or royalties), or
* If you entered an amount on the Federal Information Worksheet for "Excludable income from bona fide residents of American Samoa, Guam, or the Commonwealth of the Northern Mariana Islands" and some, or all, of the amount was excluded on Form 4563, or
* If you have any other reason to complete and attach Form 1116 to your return.

If the program determines that you are qualified to claim the credit without completing Form 1116 but for one of the above reasons you want (or need) to complete and file Form 1116 anyway, check the box in the Other Information for Your Tax Return section of the Federal Information Worksheet. You will then need to complete Form 1116.