Not using foreign tax credit (FTC) this year

[mgsjka]

This will be the first year in a while that I won't be using FTC. I've used FTC every year for the past few years. What do I need to do to preserve unused credits from previous years, if anything? Do I still need to file a Form 1116 and take active steps to save unused credits? Or can I hold off on Form 1116 this year, but file it as required in future years (provided the credits haven't expired by then)? Is there a scenario where I would forfeit unused credits completely, e.g. if I didn't file a Form 1116?

[MarilynG1]

No, you don't need to file Form 1116 if you're not taking a Foreign Tax Credit this year.  Keep the amount of your carryover handy for when you do take the credit.  It can be carried forward for up to 10 years.  No, you don't forfeit the credits by not using them, during the 10 year period. 

Here's detailed info on Claiming the Foreign Tax Credit.

@mgsjka