Where do I enter foreign source income (i.e., the amount of mutual fund ordinary dividends from a foreign source) in Turbo Tax? (This is different from foreign tax paid.)

Forum|Forum|7 years ago
June 6, 2019
2 replies
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TurboTax Premier Online

Best answer by MarilynG

It is somewhat tricky to get to the area to enter your Foreign Source Income.

If your 1099-DIV shows an amount for Foreign Tax Paid, check the box under Box 1b - Qualified Dividends, 'My form has info in more than just these boxes..'. and enter Foreign Tax Paid.

Then in Deductions & Credits, choose Foreign Taxes from the topic listing.

TurboTax asks if you want to take a Deduction or a Credit, then you come to a screen titled 'Where did you receive the Dividend Income From?'

You can select RIC for income income received from a mutual fund (screenshot).

On the next screen, you can indicate that you want to report the Foreign Dividend Income, and link it to your 1099-DIV.

Then you enter the amount of Foreign Source Income (screenshot).

MarilynGAnswer

Level 15

It is somewhat tricky to get to the area to enter your Foreign Source Income.

If your 1099-DIV shows an amount for Foreign Tax Paid, check the box under Box 1b - Qualified Dividends, 'My form has info in more than just these boxes..'. and enter Foreign Tax Paid.

Then in Deductions & Credits, choose Foreign Taxes from the topic listing.

TurboTax asks if you want to take a Deduction or a Credit, then you come to a screen titled 'Where did you receive the Dividend Income From?'

You can select RIC for income income received from a mutual fund (screenshot).

On the next screen, you can indicate that you want to report the Foreign Dividend Income, and link it to your 1099-DIV.

Then you enter the amount of Foreign Source Income (screenshot).

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beckysAuthor

Level 2

Thanks! Figured it out.

Aspen122

Level 2

I have the box checked in each of the four 1099-DIVs that have foreign tax income.

I chose the option for the Credit and chose the 18 applicable countries in the drop down list.

Only one country can be chosen at a time. The four 1099-DIVs (from two brokerage firms) are not listed; only one.

Is there a way to work with the Ordinary Dividend dollar amount and assign countries and amounts to that? A way to provide Total Dividend income for each 1099-DIV and Total Foreign Source Income for that 1099-DIV?.

DaveF1006

Level 15

Yes, you can choose various in the drop-down list and that will summarize the totals for all the countries. It also eliminates the necessity of trying to determine total dividend and foreign source income for each country.

@Aspen122

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