Skip to main content
February 24, 2025
Question

This year all the foreign tax credit carryovers I had recorded in the past (automatically)disappeared from the software. Where should I look for those in my past forms?

  • February 24, 2025
  • 1 reply
  • 0 views
I was looking on form 1116 from the past years, but don't know which line for the turbotax column "foreign taxes" and which one for "amount used". On a side note, I am overly annoyed that this value are not automatically populating for me this year, might as well not use this software anymore.

    1 reply

    DaveF1006
    February 24, 2025

    It depends. Check you last year's return to see if you have a 1116 comp worksheet. Scroll to the bottom of the worksheet to and you should see a complete list of carryovers. If not, then you may need to look through each year's return. For your reference, I included a screenshot on what the worksheet looks like this year.

     

    If these worksheets are unavailable, you can look at each Form 1116 and determine the amounts. 

     

    • Look on line 14 for the amount of foreign taxes reported.
    • Look on Line 35 for the amount of tax being utilized
    • The carryover that is reported is the difference between these two amounts.

    Meanwhile, here is the screenshot of the worksheet I mentioned to you in the first paragraph.

     

     

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    isabellafAuthor
    February 28, 2025

    Thank you. I have a form that is slightly different, but I was able to find my carryovers for the past years.