ErnieS0
Expert Alumni

Get your taxes done using TurboTax

TurboTax is probably asking about foreign taxes because some investments in your Stifel portfolio paid foreign taxes.

 

Check for 1099-DIV. Is there an amount in Box 7 Foreign Tax Paid?

 

You can claim a credit or deduction for foreign taxes. The credit is usually better but is more complicated. If you don't want to work through the calculations, tell TurboTax you want to take the deduction.

 

For help click Where do I enter the foreign tax credit (Form 1116) or deduction for 2020?

 

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