Yes, this is for US taxes.
This year we paid substantial Canadian tax (the "deemed disposition" exit tax) having emigrated from Canada to the US as dual citizens, and last year we paid substantial Canadian tax that we did not claim on our 1040. In the first case, the tax would be accrued, in the second, it would be paid.
When I try to enter the amounts on the 1116, I have to select either paid or accrued, when actually we have both. Most likely the tax will be carried over, so I'm guessing I could claim this year's tax as foreign tax paid on next year's return, but it's a very big chunk of money so I don't want to get this wrong.
Thank you for any guidance.
