Assuming you are using TurboTax desktop, you can preview the Foreign Tax credit carryforward from 2022 and see how much is utilized in 2023.
Log back into your program.
- Select File.
- Select Print.
- On the form selection pop up screen, select 1116 Comp Wks. If you do not see this option, select Specific Forms, and then Forms and supporting statements.
- Scroll down and check the box to the left of Form 1116 - Foreign Tax Credit Comp Wks.
- Select Preview Print Copy.
- This will pull up another window which will display your worksheet for the foreign tax credit. Page 3 will show your carryovers from 2022. Page 4 will show your current year information as well as the breakdown of the amounts used in 2023, if any, as well as the amount that will be carried forward to 2024.
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