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If you can't claim a credit for the full amount of qualified foreign income taxes you paid or accrued in the year or you had no foreign income this year, you're allowed a carryback and/or carryover of the unused foreign income tax. You can carry back for one year and then carry forward for 10 years the unused foreign tax.
Please see Publication 514 regarding carryovers: https://www.irs.gov/pub/irs-pdf/p514.pdf
[Edit 03.18.20 | 1:47 pm]
If you can't claim a credit for the full amount of qualified foreign income taxes you paid or accrued in the year or you had no foreign income this year, you're allowed a carryback and/or carryover of the unused foreign income tax. You can carry back for one year and then carry forward for 10 years the unused foreign tax.
Please see Publication 514 regarding carryovers: https://www.irs.gov/pub/irs-pdf/p514.pdf
[Edit 03.18.20 | 1:47 pm]
Did you get a solution for this situation ?
Any one has a good solution for this, I am in the same situation. Need help!
KarenJ, can you explain how a foreign business trip can release some of the foreign tax credit carryover when you do not have foreign income (US based and no more wages from abroad)? I do take 1-2 week trips to abroad each year for business purposes.
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