Foreign tax credits carryovers.

[nipnet10]

My professional return shows "Foreign Taxes Paid" , Foreign taxes disallowed" , "Foreign taxes claimed" , and "Foreign tax credit carryover". Which of these do I copy into your "Foreign taxes" , "Disallowed" , and "Amount used" columns?

[rogge1722]

In the Foreign Taxes column, enter the total previous year(s) foreign taxes on the appropriate year line. In the Disallowed column, enter any amounts included in the "Foreign Taxes" column that were disallowed due to reductions in foreign taxes and/or reduction of the credit due to international boycott operations. In the "Amount Used" column, enter any amounts included in the "Foreign Taxes" column that have been allowed on previous year's return(s). Thus

 "Foreign Taxes Paid" = "Foreign Taxes"

Foreign Taxes disallowed ="Disallowed"

"Foreign Taxes claimed" = "Amount used"

"Foreign Taxes" - "Disallowed"- "Amount used" = "Foreign tax credit carryover" which TT will insert in line 10 of form 1116.