Question

I erroneously did not file form 1116 in 2023 and was eligible to do so. On my 2024 return, can I carryforward the foreign taxes paid, but not not claimed in 2023? Or do I need to file and amended 2023 return?

Forum|Forum|1 year ago
March 6, 2025
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Not A Product Question

No, you will have to file an amended return and add Form 1116. To file an amended return see: How do I amend my federal tax return for a prior year?

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W

wmad1975

My question, once I complete the Amended return since it did not have the 1116 form numbers, in my case, it generated an additional refund of $ 769. What do I do next, do I have to wait to file another amended return for year 2024, since I already e-filed it 5 days ago. Thank you

V

Vanessa A

Hello,

Now that I have completed the 2023 Amended Return to include the Foreign Tax paid and accumulated but was not imported through Turbo Tax soft ware. I lost over $ 1000 since the accumulation is capped at 10 years.

Since the updated form 1116 is in the 2023 Amended return and will be mailed by me next week, how do I go about amending my 2024 tax returned to include the updated information on Form 1116.

Please note that I already e-filed my tax returned and has been accepted. According to Turbo Tax, I am expected to receive my refund by May 01 - what should I do to get prepared. Hopefully, I can e-file my 2024 Amended tax return and not having to mail it like I did for 2023.

Thank you in advance to your response.

Click here for instructions on how to Amend Your Return for 2024. It will be pretty much the same process as you used to amend your 2023 return. For the 2024 amended return, you should be able to e-file, however some people do need to mail it.

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