JulieS
Expert Alumni

Deductions & credits

When all of your foreign tax is on a 1090-DIV or similar, it isn't very complicated to enter the information in TurboTax. You don't have to enter every single country, you can use Regulated Investment Company (RIC) as your country. 

 

This is how to report that in TurboTax online:

  1. Select Federal on the left, then Deductions & Credits.
  2. Scroll down to Estimates and Other Taxes Paid, expand the section.
  3. Find Foreign Tax Credit, and click Start to the right.
  4. Click Continue, until you get to, Do You Want the Deduction or the Credit? select Take a credit.
  5. When you get to, No Other Income or Expenses, select Yes.
  6. When you get to, Choose the Income Type, select Passive.
  7. On Country Summary, click Add a Country (below the gray bar).
  8. Select RIC (Regulated Investment Company) as the source.
  9. Continue through the end of the section. 
     
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