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carry foreign tax credit back versus forward, do i have a choice?
Im confused on the way the unused foreign tax credit works.
am I required to first try to carry it backwards one year? does that mean having to file an amended return?
OR can i just push it into next year? and if i do this.. the downside is you can only keep pushing it forward up to 10 years. and that means 2019 carry fwd amt can be used up to 2029 but if i have 2020 unused, that amt can be used up to 2030 ?
thx
‎August 21, 2020
11:22 AM