@pk ... Thank you for your reply. I use the Ttax desktop version, too.
Yes, I have the div amounts for which foreign tax was paid from the detail in my 1099-DIV. I entered those div amounts in the 1116 Comp Wks as follows: Part I, Col. A: Row g (Country) = "Various" ... Row c (Int & Divs from Sch B) = 1,337 (total from a supporting statement I entered with the components of such amount from my 1099-DIV detail).
The 1,337 div amount flowed to row g (Ordinary Inc) and row m (Adj Ord Inc) of the 1116 Comp Wks. Such income data then flowed to Form 1116, Pt. I, Col A(i) (Country) = "Various" and 1a (Gross inc from sources within the country) = 1,337. I would think that Turbo Tax could find the income as so entered.
In Form 1116 Pt II, Foreign Taxes Paid or Accrued, (j) "Paid" is checked, and the col. (l) shows "1099 taxes) and col (m)(Divs) = the 65 in foreign taxes paid.
For some reason, though, in Form 1116, ln 35, the amount of the calculated FTC is 0. Although I can't utilize the credit in my 2023 taxable year, I don't understand why the program isn't generating a carryover to 2024.
I'd like to learn how to enter this such that the software works to show the FTC carryover, as I could save a copy of the file with that carryover (my tax for 2023 won't change). If I can't learn how to do that, not sure what to do. Perhaps just put in a note to self for 2024 to add the FTC credit carryover from 2023 if possible, perhaps through an override entry. I generally don't like to do that, though, as I don't want to screw up my ability to e-file or mess anything else up. Appreciate your thoughts.
