Foreign Tax Credit Carryovers

[Wallace_n_Gromit]

This is giving me a headache.  I have been doing ROTH conversions since 2022, so my income/taxes due are quite high.

In 2021 my foreign taxes paid on (general category) foreign income was $1712 of which I was able to use $955 as a foreign tax credit.  My 2021 c/o was $757.  Done by CPA.

In 2022, (starting ROTH conversions) my foreign taxes paid on (general category) foreign income was $1713 of which I was able to use $2192 as a foreign tax credit.  My 2022 c/o was $278.  Done by CPA.

In 2023, (continuing ROTH conversions) my foreign taxes paid on (general category) foreign income was $1749.  I am now using the online version of TurboTax Deluxe.

On the TurboTax Deluxe online page called [Foreign Tax Credit Carryovers] what do I enter in columns one and two of 2021 and 2022?

(depending on what I enter, I either get a foreign tax credit that's hundreds of dollars above what I paid and carryovered, or an amount that exactly covers all my credits and carryovers to date--$0 balance-- but generates an error message)  : TIA

Foreign Tax Credit Carryovers

Enter any foreign tax credit carryovers from a prior year.
Year   Foreign Taxes   Amount Used 2013
2014
2015
2016
2017
2018
2019
2020
2021
2022

[Wallace_n_Gromit]

I'm actually using TurboTax Premium online.   TIA

[Mike9241]

the short way enter $278 from 2021 nothing for 2022

the long way enter gross FTC c/o from 2021 as 757 enter utilized as 479

under FTC rules current year is used before c/o's since your 2022 FTC utilized exceeded the 2022 FTC that arose you can leave that line blank or enter 1713 generated 1713 utilized.

[pk]

@Wallace_n_Gromit  I am not familiar with  the on-line version of the product and  so only can talk about what I would expect in the windows version.

With that being said , do you still need help ?    or have you resolved the issue(s) ?

[Wallace_n_Gromit]

I believe that I have finally resolved the issue.  Got the Foreign Tax Credit I expected to see without an error message.

Thanks for response

[Wallace_n_Gromit]

what I have done is entered:

                    FTC        U                            [Carryover not showing on website]

2021      1712       1434                          278

2022      1713       1713

Basically what you said to do.  This worked out for me correctly without generating an error message.

Thanks for your help.