pk
Level 15
Level 15

Deductions & credits

@tjw1127  often 1099-DIV will only show  total dividends, qualified dividends, foreign taxes paid ---- for you to get credit for that tax, and IF the total amount of foreign taxes paid is equal or less than safe harbor amount ( $300 for single  and $600 for joint filers ), TurboTax will automatically create the credit for you without asking for more information.  You will however need  the foreign source income  if you are require to file a form 1666  i.e. your taxes are more than the safe harbor amount.  Note the form 1666 while recognizing the full amount of taxes paid, the allowable  tax credit for the year is based on a ratio of foreign income divided by world income and  often  is far less than the taxes paid -- the rest is up for carry back or carry forward.

 

Does this help or you need more on this ?