Hello,
I am using TurboTax and I was wondering how can I enter a passive carryover from last year (form 1116) if I no longer have the passive income this year?
I would also want to add that I do have a foreign Income and it is being reported separately (form 1116) but not as a passive income.
Thank you!
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As you don't have any passive income for 2016, there is no foreign credit limit and therefore any carryovers of the passive type cannot be used for 2016.
As you don't have any passive income for 2016, there is no foreign credit limit and therefore any carryovers of the passive type cannot be used for 2016.
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