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Deductions & credits
This is still a freshly answered topic, so I would like add a follow-up question.
"You cannot claim a credit for unused foreign taxes in a year to which you carry them unless you also claim a credit for foreign taxes actually paid or accrued in that year."
Does this mean I can carry over credit from 2021 forward to 2023, and if I claim, even the smallest, new foreign tax credit in that year (accrued or paid), only then I will be able to claim the carried over credit?
March 24, 2023
9:04 PM