Re: foreign tax credit
- If all your foreign-taxed income was 1099-reported passive income, such as interest and dividends, you don't need to file Form 1116, provided that any dividends came from stock you owned for at least 16 days.
- Single filers who paid $300 or less in foreign taxes, and married joint filers who paid $600 or less, can omit filing Form 1116.
Check Schedule 3 line 1 to see if you got it automatically.
February 14, 2024
11:17 AM
