I just discovered that I understated my foreign dividend investment in 2022: I actually reported my foreign tax paid instead of my foreign income earned. Stupid, right? TurboTax did not catch this in its verification of the return (I guess it is not a common-enough error for them to bother with?) I thought it not worth the hassle because the IRS seemingly would owe me a couple of hundred dollars (I ran a simulation). But now it's occurring to me that this will affect my 2023 return in the form of the foreign tax credit carry-over. (By the way, I only claim the deduction and don't itemize.) Is it worth filing the amended 2022 return? There won't be any result obtained from the IRS in time for 2023 filing (I see that it takes several months for them do process amended returns.) Should I file it now, and then file an amended 2023 return when the IRS results are known? Apparently the IRS will do the necessary calculations, all I'm responsible for is signalling the correct foreign dividend income figure.
