Getting critical rejection ref#56511 saying I have to add schedule B of form 1116. This form does not exist in Lacerte, but I downloaded from irs.gov. It is a manual reconciliation of 10 years of foreign tax credit carryover! Lacerte has this info, at least for my expats, but not for portfolio income? Just spent an hour with "tech support" (ha!) and she is now telling me Lacerte will not even generate the form let alone carry the data. (and downright refused to escalate the case!) Must download, prep it manually, then attach as pdf to the efile. Which also means nothing will be carried to next year! I foresee hours and hours of research time to do this for everyone.... unless someone else has already encountered and found a workaround? Or is there some way to motivate Lacerte to generate the form? Every taxpayer who has foreign taxes paid on their brokerage accounts will likely be exposed to this. Thanks.
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"Every taxpayer who has foreign taxes paid on their brokerage accounts will likely be exposed to this."
And almost all of those will never be able to use the FTC if this is their only foreign tax and foreign income.
So maybe you could omit the c/o?
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