In TurboTax Online, how do I change the text I added during Federal Review for the Form 1116: Foreign Tax Credit, Foreign Taxes (A) Line 3 Explanation Statement?

Forum|Forum|6 years ago
February 16, 2020
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After adding the required text for "Other Deduction Statement" for Form 1116 when prompted during Federal Review, I realized the explanation did not cover the complete line dollar amount. There seems to be no straightforward way to get back into that explanation statement in TurboTax Online and update it. Any workaround?

TurboTax Self Employed Online

Best answer by KarenJ2

Unfortunately, I do not need to get to the foreign tax credit section. I've already been there.

I need to edit, specifically, the explanatory statement description text for Form 1116 that is added as an extra statement to the end of the filed tax return. TurboTax Online only appears to prompt the taxpayer for that text during Federal Review. It does not appear to be accessible any other way. It does not reappear if one re-does Federal Review and any explanatory statement text was already entered during an earlier Federal Review.

While some of these step-by-step answers are appreciated and may be useful to those who have a more general issue with Form 1116, they don't address this specific issue or instance.

I'm going to move forward with the assumption that you simply can't change that explanatory statement text in TurboTax Online once it's been entered, especially now that tax experts here haven't yet found a workaround.

I hope the ability to edit explanatory statement text is a feature Intuit considers adding in the future to TurboTax Online, as TurboTax Online doesn't seem to have a Forms mode.

You may try going to the left hand side of your screen at the bottom and click on Tax Tools. and then click on Tools.

Then click on Delete a Form and hopefully your will see the statement in the list of forms.

Or delete and reenter the foreign tax credit information.

The CD/Download version of TurboTax is so much easier to use. You can see all the forms while you are preparing your return. I highly suggest it next year,

You can always print your return, delete the form and then mail your return .

CatinaT1

To edit this information, follow these steps:

Sign into your TurboTax account
Click on Search in the upper right corner next to the magnifying glass
Type 1116
Click the Jump To link in the search results
Click Edit

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

SeattlenerdAuthor

Unfortunately, that does not seem to work in TurboTax Online. Clicking on "Search" next to the magnifying glass in the upper right opens the search panel ("Search questions, keywords or topics"). Typing "1116" simply brings up a number of general questions and answers about Form 1116, a total of 3120 across multiple pages, and a "Contact Us" link at the bottom of the search panel.

There is no "Jump To" link in the search results in the search panel, or at least none that I could find. And since this is TurboTax Online, there appears to be no Forms mode available, which is why a workaround may be needed.

Thanks, though, for the idea.

KarenJ2

To go to the foreign tax credit section of TurboTax online:

When opening your return, click on Tax Home on the left hand side of the screen.
You will be at the summary page for your tax return.
On the left hand side of the screen. click on Federal
Click on Deductions and Credits at the top of the screen
Scroll down to Foreign Taxes (Income Tax Paid is right above it)
Click on Edit

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"