You can enter your foreign tax carryover in the foreign tax credit section of TurboTax. Follow these steps:
- Click the Search Topics icon at the top of your screen
- Type Foreign Tax Credit
- Select Foreign Tax Credit
- Click Ok
- Answer the questions when prompted by TurboTax
- Click Yes to Do you have any foreign tax credit carryovers from 2016 or a prior year?
- Enter your foreign tax credit carryovers in the appropriate boxes
It is advisable to use the Simplified AMT Foreign Tax Credit Limitation election when your foreign income is from general category income such as wages. However, if you have carryover credits from multiple categories, do not elect the simplified method.
