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Level 3
posted May 12, 2023 12:53:49 AM

Turbotax Online: How do I tell TurboTax 2022 to automatically import credits from TurboTax 2021?

  • Last year I revoked the FEIE (foreign earned income exclusion) for the first time (used FTC instead).
  • Since once revoked, it cannot be used for another 5 years, I have to use FTC (Foreign Tax Credit, AKA foreign earned income tax credit) again this year.
  • My last year's FTC use, also resulted in a significant amount of tax credit that can be used this year.
  • I guess this is stored somewhere in my

    filed.tax2021

    that I imported into TurboTax 2022 at the beginning of the session. 

    How do I tell TurboTax 2022 to automatically use this credit when going through the FTC process this year? 

    To provide more context, here is the relevant screenshot from TurboTax 2022 (online):


    Thank you

0 1 368
1 Best answer
Level 3
May 15, 2023 4:04:11 AM

Answering my own question, for the benefit of others:

TurboTax 2022 automatically imported credits from TurboTax 2021 already.

It is not visible, however, until you go through the FTC interview process until reaching the `Foreign Tax Credit Carryovers` page.

 

The boxes there are pre-filled with the amounts from prior years:


This is very convenient. Thank you TurboTax.

1 Replies
Level 3
May 15, 2023 4:04:11 AM

Answering my own question, for the benefit of others:

TurboTax 2022 automatically imported credits from TurboTax 2021 already.

It is not visible, however, until you go through the FTC interview process until reaching the `Foreign Tax Credit Carryovers` page.

 

The boxes there are pre-filled with the amounts from prior years:


This is very convenient. Thank you TurboTax.