DaveF1006
Expert Alumni

Deductions & credits

If you are working in Turbo Tax Online and made one entry for dividends, then do the following.

 

  1. Split the dividends in half or if you know which dividends came from a particular country, and make two 1099 DIV entries instead of one.
  2. Split the foreign taxes paid also  and include these in the two separate entries. If you know this information, you can separate these according to which country the foreign taxes were paid in. if not then the can make the split according to your best estimate or split them in half.
  3. Now you can pick a foreign country for each of the dividend and foreign tax split. 
  4. Now you can claim the foreign tax credit by going to federal>deductions and credits>Estimated and Other Taxes Paid >Foreign Tax Credit
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