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Get your taxes done using TurboTax
@Anonymous_ I was not referring to a deduction. I still want to take the credit, but just skip the carryover of the excess to next year, by not filling the Schedule B, 1116. I will still file the regular 1116 (credit for this year). Is that allowed? IRS theoretically should not mind, given I am foregoing my credit for next year, but I wonder if their software sees this as a glitch and rejects my filing. Also, wrt deduction - if I took that option would it make the entire return as itemized? I have never filed itemized returns before and wanted to avoid another rabitthole.
March 3, 2022
7:57 PM