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I am looking at the form 1116 (foreign tax credit). I have…

I am looking at the...
I am looking at the form 1116 (foreign tax credit). I have paid $30,000 in taxes in the UK (I live all year here), the US tax says line 22 on the form can only be 21,000. Where do I report the carry over of $9,000?
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Answered in 1 hour by:
4/25/2017
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,396
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Hi... Sorry, just broke out of a meeting.

...

ON next year's return.

...

See line 10 under figuring your credit.

...

If you have carryover from a previous year that's where you'd enter it

Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,396
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified
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Lane
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Category: Tax
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