If you report q foreign tax paid in Box 7 of your 1099 DIV, you will be asked a follow-up question about what amount of your dividend reported is a foreign dividend. Since the US percentage is 55.8% your foreign dividend amount is 44.2%.
Then it will ask you to report what amount is the foreign dividend of the total dividend reported. You would multiply the amount of Box 1A of the 1099 DIV by 44.2% to report the amount of foreign dividends paid. The amount is necessary to determine the amount of the foreign tax credit you are allowed to claim for this year.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
