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Deductions & credits
On form1116 line 33, I have smaller number than on line 32, which means I should have more Foreign Tax Credit than total tax amount this year, so should have excessive FTC. However, in TurboTax "foreign tax credit carryovers to 2021" worksheet, I see it utilized all the foreign tax for 2020 and there's 0 carryover to 2021. How can that be the case?
‎October 13, 2021
1:45 AM