Foreign Tax Credit carry forward

[Jack]

Last year I had a foreign tax credit that I wasn't able to use because
I didn't owe any taxes. My understanding is that it can be carried
forward. If so, how is that done? It isn't obvious from the tax
form.

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[Arthur Kamlet]

In article <559a135f-4aea-4cd1...@g25g2000vbl.googlegroups.com>,

Jack <Wa...@lippman.info> wrote:
>Last year I had a foreign tax credit that I wasn't able to use because
>I didn't owe any taxes. My understanding is that it can be carried
>forward. If so, how is that done? It isn't obvious from the tax
>form.

Carry back one year and forward ten years.

It can be done only when using Form 1116.

See the instructions for Orm 1116 line 10 beginning on page 13:

http://www.irs.gov/pub/irs-pdf/i1116.pdf
--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

[Arthur Kamlet]

In article <hg3jnu$psu$1...@reader1.panix.com>,

Arthur Kamlet <-T...@panix.com> wrote:
>In article <559a135f-4aea-4cd1...@g25g2000vbl.googlegroups.com>,
>Jack <Wa...@lippman.info> wrote:
>>Last year I had a foreign tax credit that I wasn't able to use because
>>I didn't owe any taxes. My understanding is that it can be carried
>>forward. If so, how is that done? It isn't obvious from the tax
>>form.
>
>Carry back one year and forward ten years.
>
>It can be done only when using Form 1116.
>
>See the instructions for Orm 1116 line 10 beginning on page 13:

Typo: Page 15.