When you enter your 1099 DIV and report a foreign tax paid in Box 7, the following screen will ask if you need to adjust the dividends. Here you will say yes. The next screen will ask for the amount of the adjustment and you will report the amount recorded for foreign source income adjusted for IRC 904(b).
In the following screen, report the Foreign Source income amount. Once this is reported, the section is complete and then you can go to the following section to claim your foreign tax credit.
- Go to Federal
- Deductions and credits
- Estimate and other taxes paid
- Foreign Tax Credit>start or revisit
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