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Get your taxes done using TurboTax
ok thx so this carryover that's stuck - what scenario do I need to engineer to flush it out because every year I do the 1116 I have a couple of holdings from France and Switzerland but the math gymnastics works out so the max amount of the credit is usually close to the amount of the taxes paid this year and the carryover just keeps rolling over. Do I need some investment with a high amount of foreign income, but lower foreign tax rate?
BTW I also have investments for UK/Germany but these don't have tax withholding so I am not including that income. When I do 1116 I just isolate the France and Switzerland income/tax as my cols A and B.
‎April 15, 2024
5:13 PM