☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 25, 2023 4:18:13 PM

How do I figure out if I have any foreign tax credit carryovers from 2021 or a prior year?

Do I look at my last year's return, Form 1116 Schedule B, then (for 2021) look at the last row, row 8 Foreigh tax carryover to the following tax year. Combine lines 3 through 7? If that # is zero, then I didn't have a carryover from last year, right?

0 1 300
1 Replies
Level 10
Mar 25, 2023 7:23:28 PM

 2021 1116 Schedule B Line 8 shows the amount of Foreign Tax Credit you can carry forward for 2022 and future years. If Line 8 is 0 then you did not have any Tax Credit you can carry forward to 2022.