I am going through this now as I have in the past just filled in the value in box 7 of my 1099-DIV as the foreign taxes paid in Turbotax. I am just now learning that I may have done this foreign tax credit wrong.
I am currently trying to get a refund from Switzerland to reclaim part of the tax it took from my dividends, amounting to 20% of the dividends. If or when I do get the refund, I will have to amend my previous tax returns as well as for all the years I used Turbotax to do the foreign tax credit. Has Turbotax ever admitted that this was a mistake in their software?
