Hi,
I have a foreign broker where I have got some dividend income from foreign stocks (foreign to the country of the broker as well). The dividends have been taxed twice, one in the country of the stock and again in the broker country.
For example my broker is in Spain, and I have German stocks that gave $100 in dividends. Those have been taxed in Germany to 20%, the remaining $80 have been taxed again in Spain at 15%, so I got $68.
Any idea on how I could split that income/tax so I can report it in the 1040 dividend section and in the form 1116 to claim the foreign tax credit?
I know that I need to manually add different 1099-div forms, one for each country, so I can later complete the from 1116 and report the tax paid in each country as well The issue is that the income has been taxed twice in two countries, so I don't k know how to split it.
Thanks.
