There’s a specific way to enter your Box 7 foreign tax paid for Form 1099-DIV in TurboTax Online. If you miss it, a tax credit may not appear.
First, go back into the Form 1099-DIV portion of the interview and make sure you entered the Foreign tax paid from Box 7 of Form 1099-DIV, Dividends and Distributions. The entry box is hidden when the relevant page first appears.
Please see the TurboTax Help article Where do I enter my 1099-DIV in TurboTax Online? for entry information.
Note that, when you get to the Let's get the info from your 1099-DIV page, you’ll need to select the My form has info in other boxes (this is uncommon) box. This will generate a Box 7 field for you to enter.
It’s also possible that, at some point, you may have inadvertently selected to claim a deduction, rather than a credit.
If the above doesn’t work, then, in TurboTax Online:
- If you don’t see 2022 TAXES in the left pane, scroll down and select the dropdown to the right of Deductions & Credits and select Let’s get started, Pick up where you left off, or Review/Edit.
- Otherwise, in the left pane, select the dropdown to the right of Federal, then select Deductions & Credits
- On the Your tax breaks page, scroll down and select the Show more dropdown to the right of Estimates and Other Taxes Paid
- Select Start or Revisit to the right of Foreign Tax Credit
- On the Foreign Tax Credit screen, answer the question Did you pay foreign taxes in 2022 or have credits to use from a prior year? appropriately
- Enter all relevant information on subsequent screens
Please see the TurboTax Help article What does or doesn't qualify for the Foreign Tax Credit? for more information.
