Foreign Tax Credit State

[Midpack]

I’ve taken the FTC on my annual Federal return for many years. To my surprise, there is also a FTC in my state, that I’d overlooked in previous years. Maybe I’m the only one, but FYI to anyone else in the FTC camp. A worthwhile amount on both my returns…

https://www.ncdor.gov/taxes-forms/i...edit-income-tax-paid-another-state-or-country

 

[audreyh1]

so are you refiling your state returns?

 

[Midpack]

so are you refiling your state returns?

I haven't filed 2023. If you mean prior years, I doubt I will pursue amended returns. Too soon old, too late smart...

 

[mn54]

if you used tax prep software like TT didn't it notify you of the state tax credit?

 

[RunningBum]

I wonder if it's always been this way? Looks like Virginia allows it. Disappointed that TurboTax didn't pick this up if this was allowed a few years ago when I had foreign taxes paid and took the federal credit. Pretty sure the last time I took it on my fed return was 2017, so it's too late to try to get it for state.

 

[walkinwood]

Interesting.


If you're a resident of Colorado, you cannot get a credit for foreign taxes paid. Only for taxes paid in other states in the US.


Here's the text
Is the credit available for taxes paid to the District of Columbia or other countries?
The credit is available for taxes paid to the District of Columbia and territories or possessions of the United States. It is not available for taxes paid to cities or to other countries


Whole doc:
https://tax.colorado.gov/sites/tax/files/Income17.pdf

 

[Sunset]

Darn, IL does not allow FTC paid to other Countries