I paid foreign taxes to Sweden due to a sale of stock that vested mostly while I resided in Sweden. I understand this can be filed as a Foreign Tax Credit on Form 1116; however, the Foreign Tax Credit questionnaire in TurboTax insists on selecting countries reported on a 1099-DIV. I do not have a 1099-DIV, only the submitted Swedish tax return.
The income from the stock sale was reported by my company on my U.S. W2, but due to the vesting the taxes are owed 92% to Sweden. Therefore I filed an income declaration with Sweden on the 92% and paid taxes on that. Now I need to exclude those taxes from the amount owed based on the W2.
How can I report this tax credit?
These are the steps I took:
- Search 'Foreign Tax Credit'
- Click 'Jump to foreign tax credit'
- Continue > No carryovers
- Take a Credit > Continue
- Presented with the screen titled 'Where Did You Receive Dividend Income From?', no other option to continue without a 1099-DIV
