BME
Level 3

Deductions & credits

@pk Thank you very much for your help!  I saved a copy of my 2023 Ttax file just as a reference for my 2024 prep next year.  It has the Form 1116 Comp Wks and Form 1116 info that I added.  I also added via override the $65 in foreign taxes to the Carryover to 2024 section of Form 1116 Comp Wks.  (The Federal Carryover Worksheet doesn't include FTCs, at least in the one in my Ttax files doesn't.) 

 

This approach will at least help me remember to look at and consider the FTC carryforward in my 2024 prep, which will present a new environment for the FTC to be considered.  Maybe I will have to carry it forward again, or do some complicated limitation calculation, which will make the end result to be no FTC, but at least it won't be lost due to the apparent software bug.     

 

p.s.  I think my situation is like @gmangesh  's inasmuch as I also have a zero tax liability for 2023.  I see from IRS Pub 541, Foreign Tax Credit for Individuals, p. 18, that "If you make [the FTC safe harbor exemption election, such that no Form 1116 is needed], you cannot carry back or carry over any unused foreign tax to or from this tax year."  Thus, @gmangesh  you also may want to go the Form 1116 route.