TT Form 1116 bug and SOLUTION

Mar 24, 2012 4 Replies

Many people have had problems if they need to use Form 1116 in TurboTax so this may help someone else.



After a lot of frustration a TT chat solved it. It took a long time but I will give their answer here. It is indeed a bug in the program: TT does not link Form 1116 correctly.



Here is what needs to be done to correct the problem:



When the error appears, double click on "copy 1 of Form 1116 ..." (which is in red). It will open a window where you will select to unlink the form. (Do not add another form!)



Then re-run the error check and this time the error message will show a box to ignore the error. Select it.



Rerun the error check and the error will no longer be there - but the tax credit will have been applied correctly!



The agent said she will report the "bug" to Intuit, so maybe (don't hold your breaths) it might be corrected in a new update.



In the meanwhile I hope this helps someone else.



Jeff


" snipped-for-privacy@nospam.invalid" wrote in news:jkl6kd$erk$ snipped-for-privacy@dont-email.me:

Thanks. Don't think I have to do a 1116 this year, but have in the past and that has to be the worst form there is (actually, the absolute worst having to do it and be subject to AMT as well).

scott s. .

I entered my 1099-div forms for my mutual funds, and some had Box 6 - Foreign Tax Paid

However, I don't see any values on the Form 1116 as it's all blank ???

Get into a chat with TT. That is how I finally resolved the problem. TT's handling of Form 1116 needs a total rework.

tnx for the reply & info - It turned out that TurboTax totalled all the Box 6 entries, and merely placed that number in Form 1040 line 47 - Actually TT also entered same at the very bottom of Form 1116.

The limit for married filing jointly is $600, and ours totalled $425.

It just was not obvious to me what was happening, since the entire 1116 was blank (except for the last line, which I missed).

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