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Level 1
March 9, 2022
Question

Foreign Tax carryback and carryover

  • March 9, 2022
  • 1 reply
  • 13 views

Do I have to carry back one year of unused foreign tax before I can carry forward of the remaining unused foreign tax to the next year when I have unused foreign tax this year? Can I skip carry back, and use unused foreign tax for carryover in the next years?

To carry back of unused foreign tax, do I have to amend the previous year's tax return?

 

    1 reply

    DaveF1006
    Alumni - Intuit
    March 9, 2022

    You can choose to carry forward the amounts. If you choose to carry back, you will need to amend your 2020 tax return.

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