I have some stocks in a foreign account (in my home country). It is a passive account with no active trading for a few years.
However, I get a few dividend payouts on the stocks that I have on this account. I currently report the income AS IF i had received a 1099-DIV on box 1a.
Query 1.
However, considering these stocks have been held for more than a year, can they be treated as Qualified Dividends?
Query 2.
I am pretty sure I will be taxed in my home country. I will most likely be filing the taxes of the country where this income was earned after the US tax is filed. Can I still claim a foreign tax credit for this ?
Query 3.
Is there any other test to qualify for the tax credit to avoid double taxation?
