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L
Lavien
Level 2
February 14, 2022
Question

Can I stop filing form 1116 as I no longer wish to receive FTC?

  • February 14, 2022
  • 2 replies
  • 7 views
I filed form 1116 last few years but could not use credit. Can I stop filing form 1116 even though I have carryover? As I leaned how to request refund of overpaid tax to the country I paid tax, I do not need to request FTC.

2 replies

R
RobertB4444
Level 15
February 15, 2022

Yes.  The IRS does not require you to take every credit that you are entitled to.

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    Mike9241
    Level 15
    Mike9241Level 15
    Level 15
    February 15, 2022

    yes, but in future years should you be able to use the credit, any FTC carryover is lost.

     

    Mike9241
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