I have foreign taxes paid on US based investments in two RICs and 1 Canadian stock reported on a 1099 which I downloaded from the investment company directly into TT. Some comes from qualified dividends, some does not.
you need to use 2 1099-divs one for RIC and other dividends except Germany and on the second only the German dividends
on line 7 for ric enter the foreign taxes paid on RIC
on line 7c select column a
on line 7d enter the RIC foreign income amount
on line 7b double click to bring IP a window that says form 1116 copy 1 - highlight with mouse then click link
in box 8 select RIC
for the second 1099-DIV follow the same procedure but only enter german dividend information
on line 7 foreign taxes paid on German dividends
on line 7c select column b
on line 7d enter the German income amount
on line 7b double click as above and the link to form 1116
in box 8 select germany
your spouse would follow the same procedures except she would need to use column c on one 1099-DIV and column a on copy 2 of the 1116
to finish these 1116s
you must go to the 1116 comp worksheet and complete any lines that are apllicable
foreign pensions are General category income so you need a separate 1116 for these
in the jump o box type 1116 and create a name for this copy
open the form and click on the link at the top to get to the worksheet for data entry
select general category
country canada
description pension
enter the pension amount in column a (US $)
in part II enter ftc paid converted to US$ in column r
