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How do I enter foreign tax credit carryover? My previous filing has multiple forms 1116 for different categories.
This is the first year since moving to the US that we have to do our taxes ourselves. Looking at the previous years tax return, we have unused foreign tax credit from 2013 and 2014. I'm trying to figure out how to add this to TurboTax, but my previous return has two forms 1116, one for 'Passive category income' and one for 'General category income'. Do I just combine these in TurboTax, or how should I fill it in? (I'm using the online version. Is this one of the cases where the downloadable version would be better?)
One additional complicating matter:
I sold US stocks in 2014 that required me to pay capital gains taxes in Sweden. I didn't have to pay them until end of 2015 after doing my Swedish tax filing for 2014. So I ended up paying foreign taxes for 2014 that are not present in my US tax filing for 2014 since they were paid after that declaration was done. Can I somehow enter them into TurboTax, or will it just be too complicated to be worth it?
One additional complicating matter:
I sold US stocks in 2014 that required me to pay capital gains taxes in Sweden. I didn't have to pay them until end of 2015 after doing my Swedish tax filing for 2014. So I ended up paying foreign taxes for 2014 that are not present in my US tax filing for 2014 since they were paid after that declaration was done. Can I somehow enter them into TurboTax, or will it just be too complicated to be worth it?
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‎June 3, 2019
4:59 PM