So I've read this thread and am still confused. KurtL1 came close to resolving for me, but still a few questions.
1. On the Form 1099-Div, I see Box 7 with the Foreign Tax Paid. I look to the left and there are 2 columns with dividends. There are Ordinary Dividends (Box 1a), and Qualified dividends (Box 1b). So is the "Foreign Tax Income" the "Security Total" (which is the sum of each dividend) for Box 1a, Box 1b, OR the sum of the Security Totals for Box 1a and 1b. To be extra clear, if the Security Total for Box 1a is 5, and the Security Total for Box 1b is 3, is my Foreign Income 5, 3, or 8?
2. There is a separate tax form entitled "2019 Tax Paid" with lists the total foreign tax paid. There are also 2 other columns, "Foreign Income" and "QDI eligible foreign income". Foreign income is very similar, but slightly higher, than the Security Total for Box 1a. QDI eligible foreign income is very similar, but slightly higher, than the Security Total for Box 1b.
a. WTF?
b. Should the numbers on the Foreign Tax Paid form be used to determine Foreign Income? If so, is it just Foreign Income, QDI eligible foreign income, or the sum of both that's used?
Thanks for your help!!!
