Form 1116 Schedule B

[mcodycpa]

Im in the 2021 trust module and getting an error message. It says I need to attached a Schedule B for the carryover.

Where can we get this form? I go to the instructions and see no Schedule B. 

There is no worksheet in lacerte. 

New Schedule B (Form 1116), Foreign Tax Carryover Reconciliation Schedule.

 There is a new Schedule B (Form 1116) which is used to reconcile your prior year foreign tax carryover with your current year foreign tax carryover. This new schedule replaces the previous attachment requirement for Part III, line 10. See Schedule B (Form 1116) and its instructions, and the instructions for line 10 later, for more information.

[ajp]

By "trust module" do you mean you are working on a 1041?  I do several of these each year, and I haven't had a problem yet.  You also mention lacerte though -- are you working in lacerte or pro series?

[mcodycpa]

Lacerte. form 1041

The Schedule B for Form 1116 is new for 2021. 

You need to attached a schedule for Line 10, part III. see the new 2021 Form for the Form 1116. 

Thanks

[ajp]

Sounds like you figured it out! 

[jenniferfarris]

I don't think it's been figured out yet. I'm getting the same message. Form 1116 Schedule B exists in the 1040 module of Lacerte but not the 1041 module. Do we need to create a 1040 for every 1041 client with foreign tax carryover?

[mcodycpa]

yes. for now you need to create your own form and then attach. I have not seen a form within the 1041 module yet.