Form 1116 Getting error message "Foreign Tax Credit Comp Wks: Incoming C/O utilized should not reduce the foreign taxes below 0" and I can't proceed. How can I fix this?

[mariablanco78]

Using 2023 TurboTax and all the numbers are correct and similar to previous years so it seems like a system error, not a data error.

[DaveF1006]

It depends. What the error message is saying is that your carryover amount should not reduce your foreign taxes below 0. This might mean you did not pay foreign taxes this year.  if you didn't, you can not claim a carryover from a previous year unless you paid foreign taxes this year.

Here is my suggestion. What we would like to do is take a look at your file to see if there is a system error. 

You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions: 

If using online:

1. Click on Tax Tools in the left menu bar
2. Click on Tools>share my file with agent
3. Press ok and you should get a token number
4. Please reply back in this thread your token number if you are interested in having us take a look.

[mariablanco78]

Unfortunately I had to file my taxes already and didn't include this information.  I also did not pay foreign taxes this year and I'm trying to carryover taxes from 2018, so I guess it's OK I didn't include it.