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1099-DIV Foreign Income Greater than Total Ordinary Dividends - what's wrong?
On my 1099-DIV form from AMG, Box 7 Foreign Tax Paid is $340. The AMG instructions say to calculate Foreign Source Income, take the Foreign Tax Multiplier provided, which is 7.64, and multiply by the Box 7 figure. That math totals to about $2500, which is greater than the amount reported in Box 1a and 1b, which is $1851 (same figure in Box 1a and 1b). TurboTax then gives me an error when I enter the ~$2500 figure as Foreign Source Income, since it is greater than $1851. What am I doing wrong?
‎April 1, 2024
7:11 AM