Get your taxes done using TurboTax

In TurboTax CD/Download, follow these steps.

1. Go to the Forms mode and open Form 1099-DIV.
2. Scroll down to Box 7 and click inside line 7b once until the arrow appears
3. Click the arrow
4. Highlight Form 1116 (Copy 1) and click Link

The reporting of foreign tax paid can be done as a deduction or as a credit. To find out more information, click this links below.

Regarding TurboTax, follow these steps:

1. Enter Form 1099-DIV as received
2. Click this article for more details. 
   1. To enter, utilize the Jump to link described here: Where do I enter the foreign tax credit (Form 1116) or deduction for 2019?
   2. Determine your preferred reporting method:
      1. to include Form 1116,
      2. only report the Foreign Tax paid on Schedule 3 line 1, or
      3. take the foreign tax paid as a deduction.

Additional Resources for more details:

Filing IRS Form 1116 to claim the Foreign Tax Credit

Tax Topic 856 See "Claiming without filing Form 1116"

Foreign Tax Credit Compliance Tips

2019 IRS Publication 514 Foreign Tax Credit for Individuals

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