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Returning Member
posted Mar 9, 2022 7:52:13 AM

Do I need to file a 1116 (or 1116 Carryover Statement) even with no foreign earned income?

I have previously been working overseas for many years as an expat.

In 2021, I had no earned income overseas and thus no foreign tax paid.

 

Do I need to continue to file Form 1116 or Form 1116 Carryover Statement in order to "keep track" of foreign tax credits in case I am able to use them in a future year?

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1 Replies
Expert Alumni
Mar 9, 2022 8:15:26 AM

Yes, you would need to File form 1116 to continue to carry over the credit. If you do not include the form to carry over the credit, you would lose the credit.