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Investors and rental owners
For ITC carryback, will filling out the 2020 ITC box (carryback) complete part E of form T2038 which will then be included in an efiled return? Do I need to do anything else to ensure carryback of unused 2023 ITCs (Turbotax correctly identifies that I have an unused amount that can be carried back in any of the 3 prior years)? Just looking for assurance that this will work as it doesn't change my refund for this year when I complete the box, not sure how to see impact - I'm assuming as long as the 2020 ITC is less than the tax payable in 2020, I will get a separate refund cheque in that amount?
March 20, 2024
12:27 PM