I have a number of foreign holdings, all generating passive income. An accountant filed my taxes for several years. Then in 2016 I began filing via Turbotax. During these years I’ve been reporting only Paid taxes, no carryover. At the time I found just reporting the tax on 1116 challenge enough.
Belatedly, I discovered starting in 2016 TT was doing carryover for me. So TT carryovers started over in 2016. The result is I have two pools of unused credit, one starting in 2011 by the accountant and one started in 2016
To fix this I’m thinking I will have to amend years 2016 – 2018 and merge the two pools. Does this make sense, or is there a better way
Thanks for advice
