MarilynG1
Expert Alumni

Deductions & credits

You need one Form 1116 for each type of income, so all Foreign Income/Foreign Tax Paid  from 1099-DIV's will be added together on a single form with country designation 'RIC' (screenshot). 

 

The Foreign Income/Tax Paid amounts flow into the Foreign Tax Credit section automatically when you choose 'RIC' as the country in your 1099-DIV entry. 

 

All you need to do in the Foreign Tax Credit section is review and indicate 'Done'.  

 

Click this link for more info on Form 1116. 

 

 

 

 

 

 

 

 

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