Thank you @pk . I am required to file the FORM 1116 as my total of foreign taxes is more than 600 $ .
I checked my 1099-DIV from my US brokerage and I don't see anywhere it mentioning any basis. This is what it shows on my 1099-DIV.
Total Foreign Source Income* xx $
Qualified Foreign Source Income** 0 $ (Zero dollar is the actual amount that it shows on my 1099-DIV)
Foreign Tax x $
* Total Foreign Source Income utilizes the "Total" column for RICs which may not always be supplied.
** Qualified Foreign Source Income utilizes the "Qualified" column for RICs which may not always be supplied.
Also for the interest income from India , I do not get a 1099 from India . I have calculated my interest income from the bank statements . These statements tell me how much interest I got for the year and how much was withheld by the Government of India. This withheld interest income is the foreign tax credit that I am claiming here in United States.
Looking at my situation , can you please guide me how I can derive my basis for the 1099-DIV and interest income from India ?
