Why does Turbotax not transfer Foreign Tax Credit Carryover?

[1031Me]

I had a foreign tax credit carryover last year. The only way I knew this was because I was comparing a draft print of the 2023 ALL WORKSHEETS RETURN, and comparing to the ALL WORKSHEETS print of my 2022 return. This value was not transferred over from 2022 to 2023. When searching for this issue, I read that TurboTax doesn't transfer this info. It has to be entered manually.

Why? I would not have seen this except by chance. I don't even know how many carryovers I've missed in the past...

[AmyC]

The program is designed that way now. It used to carryover the credits. My guess would be that changes can occur, like audits, to change things. Great job verifying your tax return before filing!

Foreign tax credit can be carried back one year or carried forward up to 10 years so you want to keep track of your credits and which year is used. See Topic no. 856, Foreign tax credit.

To enter the carryover:

In TurboTax,

• After sign into your account, select Pick up where you left off
• At the right upper corner, in the search box, type in foreign tax credit and Enter 
• Select - Jump to foreign tax credit 
• Follow prompts
• On the screen, Foreign Tax Credit Carryovers screen, enter information  ( select Learn More for details)
• See the image below

[1031Me]

Thx. I did find the area to do that. I was wondering why TT doesn't automatically carry it over. I can't find it now, but I read a post which said it always needs to be entered manually. If I do it this way, will it automatically show up for next year's tax return?

[FrustratedExpat]

I cannot figure out which prompts are supposed to take me to the Foreign Tax Credit Carryovers screen.  I get dumped out after the "amend last year's taxes or carry forward".  Please advise.

[DaveF1006]

Please review the steps given by ThomasM125 in his Turbo Tax post. 

"Choose the Foreign Taxes option under Estimates and Other Taxes Paid, in the Deductions and Credits section of TurboTax.

Work through that section and indicate that you want the foreign tax credit as opposed to the foreign tax deduction. Eventually you will come to a page where you will be asked to enter your Foreign Tax Credit Carryovers".

@FrustratedExpat 

[marty8445]

The ONLY reason i've been using turbotax in the last few years instead of taxact is that the carryovers transferred. taxact is much easier for foreign income. turbotax changed this with no notice - I feel i've been defrauded and am very angry. 9 years of manual entry in 3 separate categories is a pain.