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Foreign Tax Credit Carryover
Last year I reported a sale of land in Canada. On that sale I paid $7,308 (in US$) to the Canadian government and filed for FTC. The calculation on my Turbotax return allowed me a credit of $3,589, with the balance - I assumed - to be carried over to this year's return. This year I have no foreign income but when I enter a carryover amount of $3,719 ($7,308 - $3,589) TT makes no changes to the amount of my refunds.
Am I doing something wrong, or is there something I don't understand?
March 3, 2022
3:16 PM