How do I know if I have a foreign tax carryover for 2017?
I paid Foreign Tax in 2016 and my account used A Form 1116 to calculate a Foreign Tax Credit. Line 10 of 2016's Form -Carry back or carryover is blank. I did pay Foreign tax for 2017.
I paid Foreign Tax in 2016 and my account used A Form 1116 to calculate a Foreign Tax Credit. Line 10 of 2016's Form -Carry back or carryover is blank. I did pay Foreign tax for 2017.
On Form 1116, if the foreign tax credit limit is greater than the foreign tax used (line 21 is greater than line 14), you have a carryover equal to that amount.
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