DaveF1006
Expert Alumni

After you file

Yes. Any excess Foreign Tax Credit unused this year can be carried back one year and carried forward for ten years. Turbo Tax will keep a record of those carryovers to apply to past or future returns as long as there is foreign income to offset the credit in those future or past year.

 

If there is an excess credit this year, here is no way you can use it to the max this year.

 

@vsundar 

 

 

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