MarilynG
Expert Alumni

Get your taxes done using TurboTax

Select 'Paid' for the Foreign Tax reported on your 1099-Div.  

 

If you record income when you earn it rather than when you get paid, you use the accrual method. 

 

If you record income when you receive it, you use the cash (paid) method. Most individuals use the cash method.

 

When TurboTax starts preparing Form 1116 for you, it doesn't yet know what type of income you are reporting (passive dividend income, general wages, rental income, etc.)

 

Click this link for more info on Form 1116

 

@deb46

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