ThomasM125
Expert Alumni

Get your taxes done using TurboTax

You aren't required to file form 1116, foreign tax credit, but you may need to file it if you want the credit.

 

You enter the dividends in the Federal section of TurboTax, in the Income and Expenses section, then Interest and Dividends, then Dividends on 1099-DIV. On the dividend entry form, click on the box that says My form has info in more than just these boxes and you will see where you can enter the foreign taxes in box 7.

 

If the foreign taxes are less than $300 (single filer) or $600 (joint return) total, you don't need to complete the form 1116 and you will see the foreign tax credit entered on line 1 of schedule 3.

 

Otherwise, you need to complete the Foreign Taxes section under Estimates and Other Taxes Paid in the Deductions and Credits section of TurboTax, under Estimates and Other Taxes Paid if you want the foreign tax credit.

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