The IRS says that all income earned worldwide is reportable. Enter the income as if you have received an IRS form 1099-DIV. Follow these steps:
- Down the left side of the screen, click on Federal.
- Down the left side of the screen, click on Wages & Income.
- Scroll down to Investments and Savings. Click on the down arrow to the right.
- Click Start / Revisit to the right of Dividends on 1099-DIV.
- At the screen Let's finish pulling in your investment income, click Add investments.
- At the screen Let's import your tax info, click Enter a different way.
- At the screen OK, let's start with one investment type, select Dividends. Click Continue.
- At the screen How would you like to upload, select Type it in myself.
- Enter 1099-DIV information.
- Click Continue.
In order to be considered qualified dividends, the dividends must:
- Be paid by an American company or a qualifying foreign company
- Be paid between January 1, 2023 and December 31, 2023
- Meet the holding period requirement for the stock—the holding period is at least 60 days during the 121-day period that begins 60 days before the ex-dividend date (the day after a company announces its dividend payments to shareholders).
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