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Returning Member
posted Feb 20, 2019 6:53:39 AM

Foreign Tax Credit Carry Forward and AMT

If I earned 100% of my salary from a foreign corporation as an employee and I'm filing as head of household,  how much is the AMT assuming I make $1,000,000 for year 2018?   Further,  if I paid $350,000 as foreign taxes and I was allowed 153,000 as foreign earned income excluded,  how much is the foreign tax credit carry forward or would I be able to take the whole amount of foreign taxes of 350,000 as tax credit for US taxes to be paid for 2018?

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1 Replies
Level 15
Feb 20, 2019 8:01:18 AM

suggest seeking a tax consultant with expertise in overseas income (I assume you were working overseas, but you never stated that specifically) ; getting expertise from an anonymous board at that income level is asking for trouble