The foreign tax credit is a non-refundable credit meaning that it reduces tax liability based from taxable income. Chances are that $16 foreign credit reduced your tax liability to zero and will carryover the unused tax credit.
You can carry back for one year and then carry forward for 10 years the unused foreign tax. This means you can amend your prior year's return and apply the unused portion of your carryover or elect to carryforward your unused for the next ten years.
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