Can I stop filing form 1116 as I no longer wish to receive FTC?
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.
02279
2 Replies
RobertB4444
Expert Alumni
Feb 14, 2022 4:26:00 PM
Yes. The IRS does not require you to take every credit that you are entitled to.
Mike9241
Level 15
Feb 14, 2022 4:58:44 PM
yes, but in future years should you be able to use the credit, any FTC carryover is lost.