Hi all,
In reviewing the below help center article entitled, "How to carry back the excess foreign tax credit," I'm struggling to make sense of one of the scenarios in which you are not allowed to carry back excess foreign tax credit. Specifically:
"If any of the below statements is true, you will Not carry back any of the foreign tax credit:
...
- In [previous year], Foreign Taxes was more than the Amount Used"
Why would you not be allowed to carry back excess foreign taxes credit to a previous year if - in that previous year - you paid more foreign taxes (e.g., you paid $1,000) than you used (e.g., you only used $100)? If anything, I imagine it would be the opposite way around (i.e., using my example numbers, I can see you not being allowed to carry back if you used $1,000 but only paid $100 in the previous year). Can anyone (e.g., @DaveF1006 ) clarify / confirm or deny whether this is a typo?
Thanks!
