It depends. this year, it may be limiting your foreign tax credit because you only had $160 in foreign taxes this year or the $160 reduced your tax liability to zero for the year thus limited the amount of credit that can be taken.
The way the foreign tax credit carryover works is if you have foreign taxes this year that can be offset by the carryover. If there is no offset, the remainder will remain until able to be offset by future foreign tax credits.
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