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Get your taxes done using TurboTax
if you did not file form 1116 in 2023 you have NO FTC carryforward. If any existed it was lost for failure to file the 1116
under FTC rules the current year FTC is used before any carryforwards. since your 2024 FTC is less than line 21 the entire amount would be utilized in 2024. if you had any carryforward Turbotax should have picked them up, if you properly answered the question about carryback
look at prior years if line 21 of the 1116 is greater than line 14 you have no carryforward
that note for 2025 doesn't apply yet. that would only apply if in doing your 2025 1040 you had more in FTC than you could used
‎February 22, 2025
1:06 PM