Deductions & credits

You have 6 distinct countries.  RIC’s are considered a distinct country.  A 1099-DIV can serve one distinct foreign country.  I suggest using the 3 1099-DIV’s from the brokers only for domestic sources.  You then will create 6 fictitious 1099-DIV’s.  First delete the foreign tax paid in all 3 1099’s.

 

Bring up a blank 1099-DIV.  Name it the same as the country it represents. Let’s say it is for the RIC’s, so name it RIC. Next  add up the total  box 1a ordinary income and the total box 1b qualified income from all sources and the total foreign tax paid from all sources for all RIC’s and insert these into the fictitious 1099-DIV.  Now subtract this total amount in box1a and box 1b from any of the 3 original 1099-DIV’s.

Repeat this for the remaining 5 fictitious 1099-DIV’s.

 

Make sure that the total amounts in all box 1a’s and box 1b’s and the foreign taxes paid are equal to the original amounts before any changes were made.

 

When you go to the foreign tax credit interview, you will have 6 payers for 6 countries.