Anonymous
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Deductions & credits
Thanks for your help, although I had a number of complications when I did the following (hopefully this might prove helpful to others facing this issue):
- When I was asked "Where did you receive Dividend Income From?" I chose various.
- When I was asked to Report Income, I selected copy of Form 1099-DIV that applied to various."
- When I was asked to Report Foreign Source Income, I extracted the information from the "details" of my 1099-DIV provided by my broker.
- Then, as I recall, when Turbo Tax did its check of my return, I selected column A on form 1116 and filled it in as follows: Name of Country - Various, Interest and Dividends - as determined in item (3) above, Foreign taxes paid (as determined from my 1099-DIV.
- I'm not sure how much of the 1116 form I needed to fill out, but unless column A was filled out with the Foreign taxes paid, the credit was not applied to my return
March 4, 2022
8:51 AM