Skip to main content
Level 2
March 24, 2021
Question

How do you input into the software a foreign tax credit carryback to the prior year. This question is for both years.

  • March 24, 2021
  • 1 reply
  • 12 views
This is passive category FTC
This topic has been closed for replies.

1 reply

George4Tacks
Level 15
March 24, 2021

Fill out the info at the top of the 1116 input then go to the Carryovers

Answers are easy. Questions are hard!
Level 2
March 26, 2021

Specifically I have a FTC created in 2020, that needs to be carried back to 2019.  A negative number cannot be added to the C/O input screen.

George4Tacks
Level 15
March 26, 2021

Checkout https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/i-have-unused-amp-excess-foreign-tax-credit-c-o-pub-514-shows/00/30493 and see if that gives you guidance. @itonewbie might be willing to help you out either here or in that thread, if you reach out the way I just did by typing the @name of the person you want to call into the discussion.

Answers are easy. Questions are hard!