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Foreign Taxes
On my last step before filing my taxes and TT is in a loop that I can't get out of. My brokerage reported dividends from 6 countries and subsequent foreign taxes. Things are not going right here...my discussion below is VERY detailed so hopefully someone can tell me if TT is acting up or if it's operator error:
- I get to the section in TT where it asks me where I received dividends from with boxes to populate with the countries. I enter all six countries (country 1 is Spain...important later...country 2 is Canada) and select "Continue".
- On the next page TT tells me to "Select a country from the list below on which to report each Form 1099-DIV". I select the first on on the list (Spain) and click on "report Income".
Since I only have one 1099-DIV so I select it on the next page and "Continue - TT presents me with a box to enter an amount...so enter Spain Dividends and select "Continue"
Here's where it gets weird. The next page tells me that I've ..."completed reporting all copies of Form 1099-DIV to a country. Do you want to review your entries.?"
- If I say "yes" it takes me back to the original country list...except Spain is the only one listed, the rest have been deleted. If I change Spain to Canada for example, it replaces the Spain data, not adds to it.
- If I say "no" it asks me a question that I answer and then it asks me my country of residence in 2024. I put in US and "continue"...aq question about carryovers...then it basically tells me I'm done. Nowhere am I asked to enter data from the other 5 countries. But it ells me that my foreign tax credit is $YYY which is correct.
I know this isn't right having done this in previous years, but the Tax credit number is correct so I know I'm not defrauding anybody, I'm just afraid of some silly audit based on admin data due to a TT bug.
Thoughts?
‎February 14, 2025
9:38 PM