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Get your taxes done using TurboTax
with qualified dividends a special adjustment may be required because of the special lower tax rate that can be applied to all qualified dividends - foreign and domestic. This is covered in the 1116 instructions on page 9
https://www.irs.gov/pub/irs-pdf/i1116.pdf
there was no need to put each country on a separate page because all the numbers are combined when calculating the allowable FTC.
the first 1099 could go on the first 1116 linked to column A
then the second link to column b
and so on
the fourth to the second 1116 column A and so on for the 5th
separate 1116s have to be used when there are different categories but dividends are of the passive category.
March 5, 2024
10:51 PM