Using Turbotax Advantage which identifies $227 of Foreign Tax Credit. Like last year. "Continue" brings up the screen "It turns out you don't qualify for this credit." Which then leads to discussion of Prior Year Minimum Tax Credit. What's going on?
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To clarify, where was this income reported? Do you have a 1099 DIV or 1099 INT?
Reported on a 1099-DIV. It appears that TT took the Foreign Tax Credit and used it properly (based on a later summary), but confusing when the message "You are not qualified for this credit" pops up.
It depends. The credit may appear on a summary but this doesn't mean that the credit applies, for this year. Instead, it may be a carryover that can be used in future years providing if you have foreign income to offset it in those future years.
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