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Deductions & credits
If you had any foreign tax credit not used, it can be carried forward up to 10 years. You can look at your forms 1116. From the instructions:
Lines 1 through 3. On these lines, you figure your adjusted foreign tax carryover from the prior tax year which is available for credit in the current tax year. The total amount on line 3, column (xiv), is included on Form 1116, Part III, line 10.
Line 4. If you have a current year excess limitation (defined later), some or all of the line 3 adjusted foreign tax carryover amount will be utilized in the current tax year. This activity is shown on line 4 of Schedule B.
Lines 5 through 8. If you have current year excess foreign taxes
About Publication 514, Foreign Tax Credit for Individuals
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‎April 15, 2024
10:17 AM