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Level 1
June 6, 2019
Question

How much of a foreign tax credit carry-forward can I use? I have about $2300 in foreign income but a $8700 carry-forward.

  • June 6, 2019
  • 2 replies
  • 4 views
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2 replies

Critter
Level 15
June 6, 2019
Unable to answer the question based on the info given .... the TT program will do the calculations based on your total annual income.
June 6, 2019

hopefully you filed form 1116 in all prior years.  if  not, you may not claim the carryforward.   if you did, then you need to complete the form 1116 for 2017.  note that this is one form that TT does a terrible job on in that it does not do all the lines automatically from the dividend and ftc info entered.