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Employee
October 14, 2024
Question

How do I know if I have foreign tax credit carryovers from 2022?

  • October 14, 2024
  • 2 replies
  • 0 views

Apparently, Turbotax doesn't track foreign tax credit carryovers and you have to look at your old tax forms and figure this out yourself. 

It is asking me, "Do you have any foreign tax credit carryovers from 2022 or a prior year?

How can I tell. I am looking at my 2021 tax forms but can't find where this is...

2 replies

Employee
October 14, 2024
No text available
Employee
October 15, 2024

@Radtree  since you are using  Windows  TurboTax Home & Business, the data from all the past years  should already be  on the machine.  Look at the federal carry-over sheet.  If you foreign taxes  this current year and are filing a  form 1116, TurboTax should automatically populate  and use the  carry-over credits  available.

 

You can also go to forms mode  and see the carry-over sheet and also the  form 1116 worksheet.

 

Is there more I can do for you ?