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After you file
To claim the foreign tax credit, here are the steps:
In TurboTax online,
- Open up your TurboTax account and select Pick up where you left off
- At the right upper corner, in the search box, type in "foreign tax credit" and Enter
- Select Jump to foreign tax credit
- Follow prompts
- Choose the Income Type, select "Passive Income"
- On screen, "Country Summary", add a country to continue
- On screen, "Foreign Taxes Paid", under foreign taxes on Other Income, enter the amount
- Follow prompts to enter foreign taxes if you did not enter it on 1099-DIV
- See image below.
If you pay taxes on dividends to both foreign and US government, you may claim a foreign tax credit on your taxes.
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‎February 23, 2021
5:31 PM