@pk Thanks a lot. It is a mutual fund (RIC) that includes ~$900 of foreign tax.
As I can see from the IRS site:
Taken as a deduction, foreign income taxes reduce your U.S. taxable income. Taken as a credit, foreign income taxes reduce your U.S. tax liability.
I chose to take the credit, but since I have no taxable income this year, that seems to be the reason for it not to make a difference. In order to take the deduction, I would need to itemize (correct?), but the standard deduction was better for me, so I am not itemizing. In sum, TurboTax has put it in the carryover section.
