The dividend income reported on form 1099-DIV has to be reported on your tax return, even if you haven't withdrawn the money out of your Acorns account.
If a foreign tax credit is reported in box 7, enter it in the entry screen in TurboTax. You don't have to fill out Form 1116 for the foreign tax credit.
In TurboTax Online, you can enter your form 1099-DIV by following these steps:
- Open your tax return
- Click on Federal in the left-hand column, then on Wages & Income
- Locate the section Investments and Savings and click on the arrow on the right
- Click Start next to Dividends on 1099-DIV.
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