can i file unused foreign tax credit carryback?

Yes, you can choose to carryback the Foreign Income Credit one year if you had foreign income in 2023 to apply that credit. You will need to amend your 2023 tax return to claim this carryback. To amend:

To amend your return using Turbo Tax Online.

1. Log into Turbo Tax
2. Select Scroll down Your tax returns & documents in your landing page.
3. Select Amend (change) 2023 return.  

To amend using the 2023 Desktop Software, go to:

1. Federal Taxes
2. Other Tax Situations>other tax forms
3. Amend a return

Once you begin amending, then complete the section for the foreign tax credit.

1. Go to Federal
2. Deductions and credits 
3. Estimate and other taxes paid 
4. Foreign Tax Credit>start or revisit
5.  At some point in the interview, it will ask if you wish to take a deduction or a credit. Take the credit. 
6.  Navigate and record the entries that the program asks for and when you reach the page that mentions Foreign Tax Credit Worksheet, this is where you take notice.
7. The first that you will be asked is what category of income is it, you will say Passive income.
8. Next screen will say Country Summary, select add a country 
9. When it says Other Gross Income - XXXX, Here you put in the Gross Amount you earned in that country in 2023.

Then you will navigate through the screens until you come to a screen that says Foreign Taxes Paid - XXXX, here is where you record the amount of the carryover to apply the foreign tax credit in 2023. 

Once your amended return is prepared, then you will need to print your tax return with all of the forms and mail it according to the filing and mailing instructions. You may also wish to send in the 2024 Form 1116 and the 1116 Comp Worksheet with an explanation that you are applying a carryback from 2024. The 2024 Forms will validate there is an excess amount of Foreign Tax Credit to be carried back or carried forward.