How do I apply my foreign tax credit carryover from last year to this year's tax refund? TurboTax shows I have a carryover, but ignores it for this year's calculations.

Forum|Forum|2 months ago
April 14, 2026
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TurboTax Online

pk_

Level 15

@akash-gunjan , Namaste Akash ji.

If you can go into forms mode you can look at what the form is actually doing --- look at both form 1116 Comp. wks. and form 1116, specifically schedule-B where you see all the carry overs.

Note that while US recognizes the full amount of Foreign Taxes paid ( for the current year ), the allowable amount is the LESSER of actual paid to the foreign taxing authority and that imposed by the US on the same doubly taxed foreign source income. Is it possible that in your case the allocated US tax on the foreign income is LESS than the foreign taxes paid. It will first use the current year and then use the carryover if needed.

Also FTC is a non-refundable credit and so if your otherwise tax liability is zero, then there is no allowable FTC for the current year.

Since I cannot see your return and/or screen, all I can do is suggest areas to look at for an explanation.

If you need more on this , you are quite welcome to add to this thread or PM me ( just NO PII -- Personally Identifiable Information ).

Namaste ji