Deductions & credits

It depends. Foreign tax credit carryovers can disappear after calculating in a 1040 return using the forms mode rather than entering information in the interview mode. This happens because of missing information in a section. Here is how to enter a proper flow of information in ensure this doesn't happen.

1. Go to federal>deductions and credits>estimate and other taxes paid
2. Foreign taxes >start
3. Start answering questions. Make sure you answer the question correctly about if this is the first year you are making the simplified  election
4. Answer the questions in the next screens until you reach a screen that talks about income type.. if you have more than one country, you will add that later.
5. Next screen is where you add the country your foreign income was earned in. 
6. Next screen will ask you what your source income earned in that country. Here you will allocate income earned while you were in that country.
7. You will continue answering questions until you get to a screen that says foreign taxes paid to XXXX. Be sure not to list a date at the bottom beyond 12/31/2023 or you won't get the foreign tax credit and will show up as an error in your return
8. There will be a carryover screen that will appear in the interview. The amount carried over from a previous year should be recorded automatically here if you prepared your return in Turbo Tax in  previous year. If not listed here, you may add the amount from your 2022 (Form 1116 Schedule B line 8 column xiii). 

I put these steps in because I wanted to stress the importance of not using the forms mode to prepare your return. As far as improper handling of your 2022 carryover credit, are you asking if the credit has been utilized?  If so, there may have not been enough tax liability in return to take advantage or your carryover credit as well as your Foreign Tax Credit for this year.

Let us know if you have additional concerns  as we are here to help.