Solved - Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

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supernova
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Solved - Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by supernova »

I elected to use Form 1116 for my foreign tax credit. When I go to file, it says there is an error: Foreign Tax Sch A box or Form 1116 copy should be entered. It is not letting me use Form 1116 and I have to select Sch A instead, which results in a $200 smaller refund.

Anyone know how to resolve this?

EDIT: Solved. See viewtopic.php?f=2&t=271276&p=4351913#p4351610
Last edited by supernova on Wed Jan 30, 2019 8:17 pm, edited 2 times in total.
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RickBoglehead
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Re: Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by RickBoglehead »

The TurboTax interview allows you to pick whether you want to file the form or not. Once you pick it, it then prompts for the necessary information. If you didn't do the interview and simply filled in forms, then it's likely you missed something.

This is for the download/CD version, I have no experience with the online version.
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supernova
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Re: Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by supernova »

RickBoglehead wrote: Wed Jan 30, 2019 9:30 am The TurboTax interview allows you to pick whether you want to file the form or not. Once you pick it, it then prompts for the necessary information. If you didn't do the interview and simply filled in forms, then it's likely you missed something.

This is for the download/CD version, I have no experience with the online version.
I am using the online version. I go through the interview and select that I want the credit, but it doesn't seem to accept it when I go to file.
livesoft
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Re: Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by livesoft »

supernova wrote: Wed Jan 30, 2019 9:32 amI am using the online version.
Add this as another gripe about the unknown, unpublished differences between the online and download versions.
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HueyLD
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Re: Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by HueyLD »

How about calling TT for assistance? It is their software.

I had zero issues with Form 1116 using the download version.
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supernova
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Re: Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by supernova »

Update:

I went through foreign tax paid again, and selected none of the options. I went through it and selected it was all from a mutual fund. Then, I went back and selected what I was selecting originally.

This time, it worked fine. I guess I had to outsmart Turbotax
tea_pirate
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Re: Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by tea_pirate »

supernova wrote: Wed Jan 30, 2019 9:57 am Update:

I went through foreign tax paid again, and selected none of the options. I went through it and selected it was all from a mutual fund. Then, I went back and selected what I was selecting originally.

This time, it worked fine. I guess I had to outsmart Turbotax
Had the same issue, thanks for reporting the solution. Fixed it for me as well.

That was silly as the first two boxes on the option screen seemed like they applied.
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supernova
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Re: Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by supernova »

tea_pirate wrote: Wed Jan 30, 2019 11:15 am
supernova wrote: Wed Jan 30, 2019 9:57 am Update:

I went through foreign tax paid again, and selected none of the options. I went through it and selected it was all from a mutual fund. Then, I went back and selected what I was selecting originally.

This time, it worked fine. I guess I had to outsmart Turbotax
Had the same issue, thanks for reporting the solution. Fixed it for me as well.

That was silly as the first two boxes on the option screen seemed like they applied.
Anytime.

I really don't get it since I went back and checked the two checkboxes and then it worked fine, after I did it manually. So weird.
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RickBoglehead
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Re: Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by RickBoglehead »

I'd suggest changing the title to "Solved - Turbo Tax not letting me..."
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beergod
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Re: Solved - Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by beergod »

I did this same solution w/ turbotax online and it went through but did not generate Form 1116 in the final return. Did anyone who did supernova's workaround see a Form 1116 in their final return?
btenny
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Re: Solved - Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by btenny »

I am using Turbo tax deluxe and getting the Foreign tax error as well. My return has been bounced twice. TT generates a Form 1116 for me as I have Foreign tax credits of over $500 from 2013 that it keeps carrying forward and never finds anything but it generates the form anyway. It is not an error but E-File says this is an issue. Will someone please explain the work around and how to fix it.

Thanks
MarkerFM
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Re: Solved - Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by MarkerFM »

btenny wrote: Wed Mar 10, 2021 4:32 pm I am using Turbo tax deluxe and getting the Foreign tax error as well. My return has been bounced twice. TT generates a Form 1116 for me as I have Foreign tax credits of over $500 from 2013 that it keeps carrying forward and never finds anything but it generates the form anyway. It is not an error but E-File says this is an issue. Will someone please explain the work around and how to fix it.

Thanks
If you are saying that TurboTax thinks your return it OK but the IRS rejects it, check to see if you have "various" in a date field. If you do, change that to 12/31/2020 and your return should get accepted. To make the change, go into Forms mode and drill down to the worksheet that has the date field and change it there.
btenny
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Re: Solved - Turbo Tax not letting me use Form 1116 (Foreign Tax credit)

Post by btenny »

Well that "fix" did not work for me. I checked the 1116 form and put in the 12/31/2020 date and resubmitted it. Then my e-file return was rejected by the IRS for the third time. I have no idea what to do or why it is wrong or what to change. I am only doing foreign tax credit carry over of >$500 from back when just like I have been doing for 6 years. I am not saving a penny in tax. I have been filing by mail for decades with no issues so I guess I will file my mail again this year.

Thanks for the suggestion any way.
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