You should not need a Form 1116 to report a foreign tax paid from Vanguard because it is less than $300. If you are trying to report this on form 1116, you may wish to report this in the program itself.
To do this, you can report this as a 1099 DIV by going to:
- federal>wages and income>interest and dividends>1099-DIV
- Report the foreign income as an ordinary dividend if this is the case.
- check the box where it says My form has info in other boxes (this is uncommon).
- Enter the foreign tax paid in Box 7
- If this is interest, perform the same step as step one but report it as 1099-INT
- Record the foreign tax paid in Box 6.
- Delete the 1116 form by going to forms and delete all 1116 forms and worksheets associated with it.
- Note: if you have other foreign tax credits you are trying to claim, then do not delete 1116.
[ Edited 03/04/22|03:12 PM PST]
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