DanaB27
Employee Tax Expert

Deductions & credits

I edited my answer above: To calculate the Foreign Tax Carryover you take the Total Foreign Tax paid (line 9) - the foreign tax credit limit (line 21). 

 

You can also look for Schedule B (Form 1116) if you have more than one year.

 

You will need to enter the amount that is from your Foreign qualified dividends and long-term capital gains.

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