Thank you for that response. I knew that the FTC generated subsequent to completing form 1116 was available to offset my USA tax liability on the reported income, but I was unaware that it could also be applied to the premium tax credit that was calculated as being due for repayment by me for 2024. The FTC available is more then enough to cover the USA tax liability and also the premium tax credit calculated as being due to be repaid by me re form 1095-A, leaving the unused FTC available as a carry forward. I could not find an explanation for this anywhere, but it was clear the online TurboTax software was applying the ftc against both the regular income tax due and also the ACA related premium tax credit due to be repaid by me. I assumed that the FTC would only be available to reduce or eliminate the USA tax due on that same income that was taxed by the foreign country and since the foreign country doesn’t address the healthcare related tax credit to be repaid I did not thing the FTC would be applicable to that too in eliminating it from what I owed on my 2024 USA tax return.
