Hello,
I have investments in international/foreign mutual funds. Each year these funds pay taxes on foreign income and report my share back on form 1099-div. So in effect I have paid this tax on this foreign income through the mutual fund.
All of this gets reported/recorded on form 1116. Reviewing the 2019 form 1116 this year I have noticed that it seems that all of these foreign taxes paid are just being carried-over and never get applied to my tax bill.
Can anyone explain why this is happening and/or how to fix it?
Thanks,
Steve
