filing 1040- QSS form 1116.My F Div. $ 822 , FTP $ 550.TT calculate $ 160 CR and $390 carry to 2025. Why can't I get full credit 0f $550 in 2024 ?

QSS filing $ 300 full credit. I want full CR in 2024 rather carry over2025.Please help

posted

Your foreign tax credit is limited to the lower of the foreign tax paid OR the US tax on the same amount. Your tax rate is 20% and the tax on $822 is $160. That's the maximum deduction allowed.

@JRPATEL-AHMEDABAD

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taxes were rejected due to home buyer credit and the original $1,940 payment is pending at the bank. when i try to resubmit they say i owe the $1,940.00?

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filing 1040- QSS form 1116.My F Div. $ 822 , FTP $ 550.TT calculate $ 160 CR and $390 carry to 2025. Why can't I get full credit 0f $550 in 2024 ?

filing 1040- QSS form 1116.My F Div. $ 822 , FTP $ 550.TT calculate $ 160 CR and $390 carry to 2025. Why can't I get full credit 0f $550 in 2024 ?

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filing 1040- QSS form 1116.My F Div. $ 822 , FTP $ 550.TT calculate $ 160 CR and $390 carry to 2025. Why can't I get full credit 0f $550 in 2024 ?

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filing 1040- QSS form 1116.My F Div. $ 822 , FTP $ 550.TT calculate $ 160 CR and $390 carry to 2025. Why can't I get full credit 0f $550 in 2024 ?

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