ThomasM125
Expert Alumni

Deductions & credits

If the taxes were paid with interest or dividends only, then you report them when you enter your form 1099-INT or 1099-DIV. 

 

When you enter your interest income, even if you did not receive a form 1099-INT, you will have to make and entry in that section of TurboTax (Income and Expenses, Interest and Dividends, Interest on 1099-INT). When you enter the name of the payer and the box 1 amount for the interest income received, click on the "my form has info in more than just box 1" option and you will see box 6 where you can enter your foreign tax paid. Do the same for your dividends, but enter the foreign tax in box 7.

 

That is all you have to do unless you have other foreign taxes you paid, in which case you would check "No" in the foreign tax section when asked if all of your foreign taxes are from interest and dividends.

 

[Edited 3/10/21 4:36 PM PST]

@mhhindal

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