Foreign Tax Credit Carryover

[Married_my_love 0]

Hi, thought I'd post this at the random chance someone has used this before.

Our first year of claiming a Foreign Tax Credit on our taxes was 2005. We had lots leftover and H&R block told us we could carry it forward for up to 10 years.

This year we're in hot water and we owe $3K for not filing the correct withholdings (don't laugh, we're embarrassed) on our W2s. Anywho, we want to use this credit that carried over but we can't find anywhere explaining if we can use it on a year we didn't have any foreign income.

Example: My hubby worked the entire year 2007 in the US and had no foreign income. Can we use the carryover from 2005 anyway?

I know this is random and probably won't get replies but I thought I'd take a shot.

[CarolynRitesh 0]

Hi, thought I'd post this at the random chance someone has used this before.

Our first year of claiming a Foreign Tax Credit on our taxes was 2005. We had lots leftover and H&R block told us we could carry it forward for up to 10 years.

This year we're in hot water and we owe $3K for not filing the correct withholdings (don't laugh, we're embarrassed) on our W2s. Anywho, we want to use this credit that carried over but we can't find anywhere explaining if we can use it on a year we didn't have any foreign income.

Example: My hubby worked the entire year 2007 in the US and had no foreign income. Can we use the carryover from 2005 anyway?

I know this is random and probably won't get replies but I thought I'd take a shot.

I hope you didn't get your hopes up too high to see a response! I am keeping this thread alive because if that is true, it could help us a lot when we move to the US! Anyone? Bueller?

[CoCo1020 0]

Hi,

I hope this helps you. I called the IRS international department in Piladelphia 215-516-2000, the woman I talked to was curteous and helpful and told me what to do with my husband's foreign income. I hope they can answer your questions

[Married_my_love 0]

Hi,

I hope this helps you. I called the IRS international department in Piladelphia 215-516-2000, the woman I talked to was curteous and helpful and told me what to do with my husband's foreign income. I hope they can answer your questions

Thanks for that number coco!

I pulled out our 2006 taxes and found a slip of paper in there from H&R that said "foreign tax carryover to 2007" and an amount. I'm going to try and get info from IRS on how to use it and if I can't figure it out I guess it'll pay to pay someone to do the taxes. I was hoping not to have to do that since we already know we owe this year, but anyway....