TurboTax asks me the question below for Vanguard Div. Request advice on how to compute the Foreign dividends received. (Box 8 has Foreign taxes paid = x, 1a- Total ordinary dividends = y) Thank you
Foreign dividends received:
"You entered $x of foreign taxes paid. Now enter the portion of the $y dividends and distributions that was from a foreign country or U.S. possession."
These foreign dividends are from a:
Mutual Fund/Regulated Investment Company (RIC)
Since you paid foreign taxes, you may be able to claim a deduction or a credit. Just remember to go to the Estimated and Other Taxes Paid section under Deductions & Credits.
