Foreign Tax Credit Carryover

[peggysioux]

I have a client who has a foreign tax credit carryovers from 2005 through 2008 totaling $61,222. I have read the Pub 514 but find it a little confusing. But, I take it that unless you have some foreign income this year subject to US tax, you cannot use any of the carryover from the previous year. Do I understand the pub correctly?

[Lion]

Yes

Yes, foreign tax credits can be used against foreign income only. And, they have an expiration. Five years?