topic If I can carryback my $403 of excess foreign tax credit in 2017 to 2016 amend, how do I enter this in 2017 1116 Wks so that the $403 carryforward dissapears? in Deductions & credits

If I can carryback my $403 of excess foreign tax credit in 2017 to 2016 amend, how do I enter this in 2017 1116 Wks so that the $403 carryforward dissapears?

paysandu — Tue, 04 Jun 2019 19:59:53 GMT

$403 excess foreign tax credit that I shows as carryforward in 2017.

I qualify to get the carryback in 2016.

I know I can amend 2016 and get the total credit.

The question is specific on how to account for this carryback in 2017 so the carryforward dissapears.

You can manually type in the carry back into the "disallo...

rogge1722 — Tue, 04 Jun 2019 19:59:55 GMT

You can manually type in the carry back into the "disallowed" column and that will cancel the carryover.

Found that the disallowed entry comes from line 12 of 111...

paysandu — Tue, 04 Jun 2019 19:59:58 GMT

Found that the disallowed entry comes from line 12 of 1116 form. There's an explanation sheet where the carryback can be stated. Automatically populates the disallowed amount in the worksheet.