I will potentially be getting a large payment from a foreign pension plan which will be taxable in that country. When I run the numbers through Turbo Tax the amount of FTC is limited in the current year, but I don't see any way to carry forward the unused portion to future years. Is this a problem in TT or am I not filling in the information correctly?
Here is a great TurboTax article which may help you: The Federal Foreign Tax Credit.
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Thanks for the response but my issue is that within TT it restricts the FTC to the maximum amount that can be claimed in the current year, but from what I can see the balance doesn't get shown as a carried forward amount. How can I use TT to either claim the balance in the current year or carry it back to previous years?
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