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Foreign Tax paid - how to report and get a credit or deduction?
I received a 1099-Div showing that a dividend I received last year had a foreign tax paid (to Ireland). I am confused about how to report this. There's a dialog box asking me to specify if this is US Source Income, Foreign Source income, or just the more general Beneficiary level. I have communicated with the company involved (Seagate, which is a US company, so far as I know), and they are not being helpful with this. What to do?
Second question... how do I know whether to take the tax paid as a credit or a deduction?
Thanks,
Andy
March 30, 2022
6:46 AM