Foreign tax credit won't carryforward
I don't have much income for 2013, so after all the deductions/exemptions are taken, I'm left with zero tax liability. As a result, I cannot take the foreign tax credit of $46. The tax software won't let me carryforward to 2014, since I don't have to file a form 1116 due to all the foreign tax coming from passive income (1099-DIV). I should be allowed to carryfoward my 2013 foreign tax credit, correct? The form 1116 worksheet in the software is still marking the $46 as being used even though the 1040 shows 0 for the foreign tax credit. I talked to someone with the software company, and they didn't really help me. Thanks!