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1099-DIV Foreign Tax Credit
I have foreign taxes paid on individual stocks and an RIC. TurboTax only has a choice of one or the other. How do I handle this?
If your individual stocks are held by a broker that is an RIC (Registered Investment Company), you can just select RIC for all of the foreign income and tax.
If you have separate 1099-DIV forms for the individual stocks, you can select the country of origin for each 1099-DIV.
It may help to know the purpose of this question is make sure you are not taking a credit for taxes paid to a country that supports terrorism. So if you have your investments with a company like Fidelity, you can use RIC for the source even if your details shown France or Germany, for instance.
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