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MikeL

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Posts: 5
Reply with quote  #1 
Computed a foreign tax credit last year (2014) from Canada & US Income.
Paid Canada their tax.
Taxpayer is US Citizen who also worked in Canada. All income was taxed to US.
Have a tax credit of $18000 carryover. Had US income as well, so entire credit was not taken due to ratio.
Also paid an additional $2525 in 2015.
Question for 2015 computation, Do I still use the Canada income on Form 1116 to
get the carry over to calculate on this years (2015) return?
It means another very large refund, so I just want to make sure. Don't see this to often.
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