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Deductions & credits
Thomas, thanks for answering. My question was about entering foreign taxes withheld on Foreign Capital Gains.
There is no provision for assigning foreign taxes on 1099 B questionnaire, but as you pointed out there is for 1099-Int and 1099-Div. Are you suggesting I create a Dummy entry on 1099-Int and enter the Net foreign tax paid (current withholding-any refund from last year) and account for it this way?
Will it go to proper place in form 1116 if I do this. Note the dummy entry will not have an interest specified. Wouldn't that look like an anomaly to the software or IRS?
Thanks for clarifying.
ā€ˇFebruary 13, 2021
1:14 PM