Missed Foreign Tax Credit in 2024

[lvsport]

Not sure if it was me or Turbotax, but I missed this credit in 2024, so no form 1116 was filed for me. What are my options to capture that credit now?

[NCperson]

@lvsport how much was the taxes paid? form 1116 is only required if the taxes paid exceeds $300 ($600 if filing joint).  You can always amend 2024.  did you enter an amount on Line 7 of your 1099-Div form?  did you ask TT to use it to itemize versus taking the credit? 

[lvsport]

it's more than $600. 

i took the standard deduction last year

[Mike9241]

If the full FTC was not used in 2024, regardless of the amount, Form 1116 needs to be filed to be able to carry forward the unused FTC, so you need to amend. However, if the FTC was $300 or less ($600 on a joint return ) the full amount should have been allowed by not filling Form 1116.