If you have paid taxes on foreign dividend income to both foreign and the US tax authorities, the IRS allows you to claim a foreign tax credit on your US tax return. You should have received a Form1099-DIV from your broker. To claim this foreign tax credit, you would need to file a IRS form 1116 to claim the credit.
Here are the steps:
In TurboTax online,
- Open up your TurboTax account and select Pick up where you left off
- At the right upper corner, in the search box, type in "foreign tax credit" and Enter
- Select Jump to foreign tax credit
- Follow prompts
It will show on line 1 Schedule 3 and line 20 of your Form 1040.
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