Deductions & credits

Thanks Dave,

 

I sold a home in australia and paid capital gains tax there of the equivalent of US$27k.  I reported the income on my US tax return but could only claim $13k of the $27k , and the $14k remainder was a carry forward credit.  TT does not automatically roll the credit over on Form 1116. I've read elsewhere that this is not an an issue per se, but I'm wondering under what circumstances I'll ever be able to use the $14k credit.  

 

Thanks,

 

Tracy