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ERROR in Form 1116 Resourced Income Category / Foreign Branch income reporting

Level 3

For almost two years I have been trying to get Intuit to recognize that there is a desperate need to integrate forms 1116 and 8858 and 2555. I am confident this error must impact literally 1+ million more with respect to 8858 by itself ....

1. Proseries does not allow excluded foreign branch income reported on 2555 foreign income and deduction worksheets to integrate with form 1116 foreign branch income category.

2. The only way to efile a return so manually populated is to populate Foreign Tax Computation Worksheet line g(1)(a)  to reflect gross foreign earned income.

It is critical in my opinion, given the likely widespread incidence of this fact pattern and the massive benefit the proposed integration would confer upon all users of the ProSeries platform, for Intuit to take the following steps:

1. Add form 8858 to the Proseries package (do not forget, this ALSO includes rental income!!! Easily 1m+ returns per year I am sure.)

2. Integrate 8858 and 1116 and 2555 reporting, including facilitating e-file of form 8858 as either part of the 1040 package (like form 5471), or at least as an efile attachment (from Proseries main menu: Efile / Attach PDF Files option).

0 Cheers