topic foreign tax credit carry back to 2019 in Deductions & credits

foreign tax credit carry back to 2019

zymxhjjtm197227 — Tue, 26 Oct 2021 18:51:47 GMT

Hi in 2020 I have unused foreign tax credit that I'd like to carry back to 2019. however I used foreign earned income exclusion in stead of foreign tax credit. can i still carry back 2020 unused foreign tax credit? and how? thanks

Re: foreign tax credit carry back to 2019

Mike9241 — Wed, 27 Oct 2021 01:32:39 GMT

If you choose to exclude foreign-earned income, you can’t take a foreign tax credit or deduction for taxes on income you can exclude.

Re: foreign tax credit carry back to 2019

Critter-3 — Wed, 27 Oct 2021 12:20:16 GMT

Foreign Earned Income and Housing Exclusions

You may not take either a credit or a deduction for taxes paid or accrued on income you exclude under the foreign earned income exclusion or the foreign housing exclusion. There's no double taxation in this situation because that income isn't subject to U.S. income tax.

https://www.irs.gov/taxtopics/tc856