Correct, dividends paid on foreign stock paid on a 401(k) are generally not reported on 1099-DIV. In answer to the original question, unfortunately, you can't deduct foreign taxes that you pay on investments held in a tax-deferred account, such as an individual retirement account (IRA) or 401(k) because the income isn't being taxed by the US while it is in the account.. You won't lose out, however, because the foreign taxes that are imposed reduced the earned income. When you make a withdrawal in retirement, those foreign taxes reduce the earned income, and you will not pay US tax on the amount that was already reduced.
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