I have dividend from ADR stocks and mutual funds where foreign Tax was paid. It is show on Line 7 of 1099. Is this deductible and if yes where?
How do Know if TT has entered/Calculated this information? Where either on Tax forms or TT worksheets I can see this information?
I am using Standard Deduction. Are Foreign Taxes paid on Dividends deductible (I am assuming they can only be deducted on Sch A) or can one take Credit for them? If taking Credit then how to use them and which form?
I looked online, Foreign Tax Credit is taken of IRS form 1116. I don't see this from on my TT worksheets?
