If you are using TurboTax online you would enter a mock form 1099-DIV entry in TurboTax.
Under Wages & Income, click on let's get the details from your Form 1099-Div or brokerage statement
You would enter the income in box 1(a). Only domestic companies would pay qualified dividends, so box 1(b) would be left blank.
You would then click on "my form has info in more than just these boxes' and enter the foreign tax paid in box 7 (if applicable).
As you go through the Foreign Tax Credit section, you would enter the amount of foreign dividends you received and the amount of foreign taxes you paid. See the steps below:
In TurboTax online,
- Open up your TurboTax account and select Pick up where you left off
- At the right upper corner, in the search box, type in "foreign tax credit" and Enter
- Select Jump to foreign tax credit
- Follow prompts
- Choose the Income Type, select "Passive Income"
- Follow prompts
If you paid taxes on the foreign dividends to both foreign and US government, you may claim a foreign tax credit on Form 1116 if it's more than $300.
@marklew
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