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andr3wd
New Member

Foreign tax credit carryover screen is very ambiguous. How do I enter it? I have a carry over of let's say $20,001. I had $110,001 of Tax credit but used $90,000

 
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JotikaT2
Employee Tax Expert

Foreign tax credit carryover screen is very ambiguous. How do I enter it? I have a carry over of let's say $20,001. I had $110,001 of Tax credit but used $90,000

It sounds like you are trying to enter a foreign tax credit carryover for tax years 2022 and possibly earlier into the 2023 tax return program.

 

If that is accurate, you will need to log back into your TurboTax account.

  1. Once logged in, select Deduction & Credits.
  2. Scroll down to the section titled Estimates and Other Taxes Paid.
  3. In this section, select start/revisit to the right of Foreign Tax Credit.
  4. Proceed through the screens and answer any questions as it applies to you until you see the screen titled "Do you want the deduction or the credit?".  Select Take a Credit.
  5. Continue through the screens and answer the questions as prompted until you get to the screen titled "Carryovers or Carrybacks".  Select yes on this screen.
  6. The following screen titled "Foreign Tax Credit Carryovers" will allow you to enter the prior year foreign tax credit carryovers by year as well as the amounts previously used per year.  Please enter each amount for each year as applicable. The input here will pull into your current year tax return to ensure any credit is taken (if allowed) as it applies to your particular situation.

 

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