I'm trying to file for a foreign tax credit using form 1116, including carryovers between 2022, 2023 to tax year 2024. The TurboTax online prompts are not entirely clear how to handle this. Approximate situation:
- 2022: 600 foreign taxes, used 400 originally
- 2023: 500 foreign taxes, used 500 + 100 from 2022
- 2024: should have 100 remaining carryover to use from 2022
How do I enter these for tax year 2024 into the prompt for foreign tax credit carryovers, and AMT foreign tax credit carryovers? Do I use the adjustments on the following question, or do I say 500 is used from 2022 on the first/primary carryover list? If using the adjustments, which column do I use exactly? The adjustments don't seem to actually get added into the total available in TurboTax.
