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Credit on foreign tax paid: Turbotax does not allow one to list multiple countries and itemize the taxes paid in each one.
After selecting countries listed in 1099-DIV to which my broker paid foreign taxes (to get a credit for the foreign taxes paid on dividends from other countries), the program asks you to "select all countries to which you paid foreign tax o dividends reported on Form 1099-DIV." But if you enter multiple countries, the next page, entitled "Income From Foreign Counties," asks you to "select a country from the list [of the countries you've just entered] on which to report each Form 1099-DIV." The problem is that the supplemental info on a 1099-DIV from a broker lists the income from EACH country. If you had $10 in income from Italy and $20 from France, you would select Italy, type in $10 . . . and then all the other countries disappear from the list. In other words, you are not able, in this example, to enter the info on France (or any other countries).
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‎February 27, 2021
10:14 AM