Question

Is turbo Tax can be used for foreign tax credit this year? It does not seem to be working.

Forum|Forum|4 years ago
March 7, 2022
2 replies
0 views

Is the foreign tax credit section working for you this year?

TurboTax Deluxe Online

Form 1116 Foreign Tax Credit is now available however, Form 1116 Schedule B which is used to reconcile your prior year foreign tax carryover with your current year foreign tax carryover won't be available until 03/17/2022. The form will be available to Print and File by Mail but will be unsupported to e-file.

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M

martingolfAuthor

So I understand that the short answer is no. You cannot use TurboTax to e-file your return this year if you are claiming a foreign tax credit. I have been trying over and over to complete your foreign tax credit module this year and it does not seems to work at all. I am supposed to get a foreign tax credit of about $5,000 this year on income tax I paid in Canada and your program tells me I do not get any credit at all even though my tax situation and income is the same as previous years and I was getting the foreign tax credit for most of the income tax I paid in Canada.

C

CarissaM

This has been recently updated for e-file. Please try to file once more, and let us know if this does not work. @martingolf

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M

martingolfAuthor

Your foreign tax credit is still not working. With your software now it gives me a $0 foreign tax credit even if I paid about $5K in foreign income tax in 2021. I did the calculation manually and I am supposed to get a $4,556 foreign tax credit with my calculations which is in line with my previous returns for the last 8 years since my tax situation has not changed since then. This is validated by your competitor software H&R Block that gives me the same $4,556 foreign tax credit this year compare to your $0. You just lost a long time client Turbo Tax. Better get your act together before you loose many more clients.