- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Foreign Tax Credit: Form 1099-Div Box 7 greater than $600
Good morning. My wife and I (MFJ) have a single (International) mutual fund that states Foreign Tax Paid in box #7 of the 1099-Div. Box #8 says "Various." This year (2019) the amount paid is greater than $600. We would like to take the Foreign Tax Credit. In past years the amount (in box #7) was less than $600. I'm looking for a step by step process that we'll need to follow to take the credit. I understand that we may have to file form 1116. Can anyone assist in this matter please?
‎January 23, 2020
7:49 AM