How do I claim credit for the foreign taxes for current year since they are less than $300 without completing Form 1116. I also do not want to use the CO. Any insights?

ajaybuti · ‎March 23, 2022

Online TT did ask a question whether I wanted to use previous years CO and when I said no, it calculated the right credit. I logged off and when I reconnected, it had defaulted to CO usage and I am unable to get that question back.

ThomasM125 · ‎March 23, 2022

You may be able to delete form 1116 and that may remove the prior year carryover. However, you won't be able to use the carryover credit again in the future.

A simple way to delete forms in TurboTax online is to use the Tax Tools menu option, which is on your left menu bar when you are working in your program. Then, choose Tools and then Delete a form.

If you are working in the download TurboTax program, use the Forms Mode on your menu bar to bring up the form you want to delete, then choose the Delete Form option at the bottom of the form.

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How do I claim credit for the foreign taxes for current year since they are less than $300 without completing Form 1116. I also do not want to use the CO. Any insights?