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Anonymous
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What is the "amount disallowed" on foreign tax credit carryforward?

The TurboTax form asks for the amount of foreign taxes, the amount used, and the amount disallowed. I see the first two but there is nothing in my previous return about foreign taxes being disallowed.
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What is the "amount disallowed" on foreign tax credit carryforward?

The amount disallowed refers to reductions in foreign taxes and/or reduction of the credit due to international boycott operations.


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4 Replies
np06501
New Member

What is the "amount disallowed" on foreign tax credit carryforward?

How do i find out which amount is what from past year's tax returns filed by my CPA? I am looking for line items on Form 1116 from 2014 to file carryovers in 2015

What is the "amount disallowed" on foreign tax credit carryforward?

The amount disallowed refers to reductions in foreign taxes and/or reduction of the credit due to international boycott operations.


OnlyWhenImDrunk
Returning Member

What is the "amount disallowed" on foreign tax credit carryforward?

"Reduction in foreign taxes" - Form 1116, Line 12. 

OnlyWhenImDrunk
Returning Member

What is the "amount disallowed" on foreign tax credit carryforward?

In my situation, the "amount disallowed" entered on line 12 of form 1116 is the amount of tax that was paid on foreign income that was excluded by the Foreign Earned Income Exclusion (FEIE).

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