Deductions & credits

The AMT foreign tax credit is similar to the foreign tax credit for regular income tax purposes, except that it is limited to the foreign tax on foreign source alternative minimum taxable income (AMTI) instead of foreign tax on regular taxable income.

To ensure the AMT  Form 1116 is entered correctly, you can preview your return and worksheets before e-filing:

You can view your entire return or just your 1040 form before you e-file:

1. Sign in to your TurboTax account
2. Open or continue your return
3. Select Tax Tools from the menu (if you don't see this, select the menu icon in the upper-left corner)
4. With the Tax Tools menu open, you can then:
   • Preview your entire return: Select Print Center and then Print, save, or preview this year's return (you may be asked to register or pay first)
   • View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu

To enter the Foreign Tax Credit Carryover you can revisit these steps:

1. Click on Federal Taxes > Deductions & Credits [In TT Home & Biz:  Personal > Deductions & Credits > I'll choose what I work on].
2. Scroll down to the Estimates and Other Taxes Paid section.
3. Click on the box next to Foreign Taxes.
4. On the Foreign Tax Credit screen, click on the Yes box.
5. Continue through the interview, entering the requested information.
6. You will come to the Carryovers screen.  Click the Yes box.
7. Enter your carryover amounts on the next screen -- Foreign Tax Credit Carryovers.  

Claiming FTC

@rcc_chen