2979332
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
robtm
Level 10

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

 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.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question