Yes, here are the exact steps to get to the carryover screen.
Go to Federal > Deductions & Credits.
Scroll to Estimates and Other Taxes Paid.
Click Start/Revisit next to Foreign Taxes...
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Yes, here are the exact steps to get to the carryover screen.
Go to Federal > Deductions & Credits.
Scroll to Estimates and Other Taxes Paid.
Click Start/Revisit next to Foreign Taxes.
TurboTax won't ask about old credits until it thinks you are filing a Form 1116 for this year.
Take a Credit: When asked "Do you want the deduction or the credit?", select Take a Credit.
Simplified Limit: If it asks about the "Simplified Limitation" (usually for taxes under $300/$600), say No. You must say No to generate Form 1116, which is where carryovers live.
Income Type: Select Passive Income (this is the most common for dividends/interest).
Add a Country: You must add at least one "country" to move forward. If you don't have new foreign income, you can select "RIC" (Mutual Funds) or any country you had income from in 2024.
Enter $0: On the screens for "Foreign Income" and "Foreign Taxes Paid," enter $0. This satisfies the software's requirement to "fill out" the form without adding new taxes.
After you click Continue through 5–7 more screens (past questions about "Foreign Losses" and "Reports"), you will finally see a screen titled:
"Do you have any Foreign Tax Credit Carryovers?"
Select Yes.
On the next screen, you will see a grid for years 2015–2024.
Find the 2024 row.
In the Foreign Taxes box, enter the total amount from last year ($4,880).
In the Amount Used box, enter the amount you actually used in 2024 ($3,380).
TurboTax will then correctly identify the $1,500 as your carryover for 2025.
@Bisso Steve