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Restore the complete history of my foreign tax credit carryovers in my 2025 filing?

When I filed an amended return for 2022 in 2023 it wiped all my carryover history. My 2023 and 2024 filings also reflect no carryover history. I just need to confirm: shouldn't I restore the complete carryover history manually on my 2025 return?

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3 Replies
DaveF1006
Employee Tax Expert

Restore the complete history of my foreign tax credit carryovers in my 2025 filing?

Yes, you will need to restore your complete carryover history in your 2025 return if it is not populated in your return. To enter.

 

  1. Open your return and go to Federal > Deductions & Credits. 
  2. Scroll down to the Estimates and Other Taxes Paid section.
  3. Click Start (or Revisit) next to Foreign Taxes.
  4. ou must click through the initial interview questions. When it asks if you want to take the Credit or the Deduction, select Take a Credit. 
  5. Continue through this section  until you see a screen titled "Do you have any Foreign Tax Credit Carryovers?" and select Yes.
  6. TurboTax will present a table for years 2015–2024 and you can enter your information here.
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Restore the complete history of my foreign tax credit carryovers in my 2025 filing?

These missing years can also be entered directly into table 1116 in forms, correct? 

DawnC
Employee Tax Expert

Restore the complete history of my foreign tax credit carryovers in my 2025 filing?

Yes, if you have the desktop software, you can enter the carryover amounts directly in Forms Mode.   If you are using TurboTax Online, you have to enter the amounts in the interview as there is no direct forms access.  

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