How to report dividends from a foreign brokerage account when there is no 1099-DIV?

Forum|Forum|7 years ago
June 5, 2019
1 reply
10 views

My brokerage account is in EUR in France.

I don't get a 1099-DIV.

1) Do I report the dividends on the "Dividends on 1099-DIV" section?

I looked at this section but it asks for the boxes on the 1099-DIV which I don't have.

2) As for converting EUR to USD.

a) Should I convert the amounts using the exchange rate at the date I received the dividend or the exchange rate at the end of the year?

b) What service should I use to get the exchange rate?

Thanks

TurboTax Premier Online

MargaretL

Level 12

1. Yes - please use the data entry as if you received Form 1099-DIV

2. a - use the exchange rate when you receive the dividend (or for foreign tax paid, if any, use the rate when you pay/accrue the tax)

2. b - please use the following link; scroll down...it lists government sources as well as outside sources for exchange rates:

https://www.irs.gov/Individuals/International-Taxpayers/Foreign-Currency-and-Currency-Exchange-Rates

Additional information, if you'd like:

https://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates

Mike8Author

Level 4

1- Ok so TT won't help me define what type of dividends it is (Total ordinary dividends, Qualified dividends, Total capital gain distr., ...) correct?

2- The government sources don't have rates per day. Only per quarters from what I can see.
It looks like there is not a strict rule to follow in terms of where to get the rates so I just use whatever service I want? Do I have to report this information somewhere?