Sorry to say this but you should pull the carrot and compost it. If you save seeds from that carrot you will be selecting for early bolting and that is an undesirable trait in carrots.

If you do plan to try saving seeds from carrots you need to be aware of any Queen Anne's Lace that might be around. QAL and carrots are the same species and will cross pollinate with each other.

Rodney

Thanks Rodney! I had a feeling it might not be a great idea to save the seeds.

Is there any reason to not eat carrots that have already flowered (not sure why it should go into the compost bin)?

I was assuming the carrot had turned woody since it's flowering. Certainly you can try it to see if it's fine still.

Rodney

This is my first time growing carrots, so I'm not sure if it's woody (it's been in the ground about 75 days). I'll pull it up and see in a few days. Thanks for the help!

Rodney, I pulled the carrot and I'm not sure if it was woody, but it was very small so I threw it into my compost bin :)