No, that is not correct. You should proceed with the first version that correctly calculated the utilized portion and the carryover into 2026. You just need to enter the previous carryover data that was missed. Follow these steps to restore your carryovers from previous years.
- Go to Deductions & Credits > Estimates and Other Taxes Paid > Foreign Taxes.
- Work through the interview until you see the screen: "Do you have any Foreign Tax Credit Carryovers?"
- Select Yes.
- You will see a table for years 2015–2024.
- Enter the amount of carryovers from previous years here.
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