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Foreign tax credit - multiple country selection vs just using "RIC" for all 1099-DIV foreign income
Turbotax has an unintuitive/non-functional workflow for selecting multiple countries towards reporting foreign tax income from 1099-DIV (form 1116). Given all my foreign income is via the 1099-DIV from my brokerage account from a well-known firm, can I just consolidate all of the foreign income under "RIC" (Regulated Investment Company) or is "RIC" meant for mutual funds only? Some of the foreign income on the 1099-DIV is from dividends generated from individual foreign stocks (bought from the brokerage), not mutual funds, hence the question.
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March 3, 2022
5:38 PM