cientax Posted February 28, 2011 Report Share Posted February 28, 2011 Have Canadian tax paid during the year and was allowed a credit on form 1116. (too much tax to claim credit for 100% tax paid so must use form 1116.) Any unused tax can be carried back one year then carried forward 10 years. Is there any provision to forego the carryback and just carryforward unused tax? We are having to file amended returns each year (for the past four years) to carryback unused foreign taxes. In some cases no additional credit is allowed due to limitations. Quote Link to comment Share on other sites More sharing options...
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