1099-DIV Foreign Tax Credit

Forum|Forum|4 years ago
February 16, 2022
1 reply
19 views

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?

Best answer by JulieS

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.

JulieSAnswer

Level 15

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.

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