Thanks I am taking standard deduction. So deduction does Not help me. FTC has to report as Credit to reduce taxes.
My taxes paid are from 2 entities and amount is more than 300. So I have to use from 1116.
One Single from 1116 has 3 Columns (A, B and C). I am assuming each column is for single country or can I combine them If they are from same Country, For Example
Columns A ( Non Qualified Dividends from Mutual Funds - Non Qualified - code is RIC
Column B Qualified Dividends from Corporation - Assuming they are from Same Single Country
and I can get by using only One form (column A and B on From 1116
I am bit confused layout of Form 1099-Div.
Box 7a - Foreign Tax paid
Box 7 b - double click to link form 1116 in pop window
Box 7 C -For form 1116 which column A or B or C to choose. Which one should I click. I checked A? Box 8 Chose RIC (mutual funds). Then went to 1116 work sheet and filled out Both Column A (mutual funds - non qualified and Column B Qualified Div. I can manually enter Country information into form 116 worksheet and it will appear in from 1116.
Do I need to double click Box 7 c Column B? Thing is if I click on Column B then I have enter different country in Box 8 not sure what happens to information which I entered earlier?
Box 7d- Foreign source actual $ amount .
