I must admit that I am still confused about the work-arounds for firm 1116. I have foreign taxes reported in the 1099-divs. Am I to understand the the IRS disallows listing a total of foreign taxes paid for each brokerage and listing the countries as various?
Am I then to extract the foreign dividends from the div. Forms and then make a separate div. For each country? If so, I am confused about how to name these div. forms. Would I for example label one CANADIAN INCOME from Goldman Sachs? I would then continue to enter other foreign sourced dividends from that country from other brokerages by double-clicking to link to that column?
If this is done, I don’t see the need for dummy forms, etc.
Am I missing something?
Thanks for you considerable assistance.
