Question

Foreign Tax Credit

Forum|Forum|1 year ago
March 30, 2025
1 reply
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I was able to apply for the Foreign Tax Credit for 2024 taxes for which I have already filed. I have now discovered I had Foreign Tax Credits for 2023.

Am I able to amend my 2023 return to gain the benefit from these credits? If so, how do I do that on Turbo Tax?

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T

ThomasM125

Yes, you can amend the 2023 tax return. You will see an option to do that on your home page when you log into TurboTax. You make the necessary entries to report the foreign tax and assign the income to the foreign country, like you did on the 2024 return. If you are due a refund you file the amended return to receive that.

If you can't use the full credit in 2023, you can carry it back one year or forward ten years.

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