California Society of CPAs / Estate Planning / CalCPA Discussion Forum / Final 1041 and carryover of foreign tax credits / Latest PostsInstantForum.NET v4.1.4California Society of CPAshttp://forums.calcpa.org/forums@calcpa.orgWed, 16 May 2012 18:00:22 GMT20RE: Final 1041 and carryover of foreign tax creditshttp://forums.calcpa.org/Topic609-2-1.aspxI don't know for certain. The trust returns that I prepare distribute all of the income so that the credits are distributed each year - they would only be available on the fiduciary return in a year when deductions exceeded income.</P><P>Foreign tax credits can only be carried over for 5 years so there would be a very short window in which to use them.Mon, 30 Jun 2008 20:25:04 GMTMary Kay Foss