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Deductions & credits
Here are the steps to take to report Dividend income:
1. Open turbo tax
2. Income or wages and income in Desktop
3. Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) Interest and Dividends if in Turbo Tax desktop
4. Select 1099 DIV
5 .Once you get to the 1099 DIV form, enter all information and
then enter the amount of Foreign Tax paid on those
dividends in Box 7.
6. Then a screen will follow asking you the amount of foreign
dividend. If it is strictly Canadian, it will be the full amount.
7. Then it asks, these foreign dividends are from other source.
You will select that and then a drop down will appear where
you can select Canada.
How to report Dividend income:
1. Open turbo tax
2. Income or wages and income in Desktop
3. Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) Interest and Dividends if in Turbo tx desktop
4.Select 1099 DIV
5.Once you get to the 1099 DIV form, enter all information and then enter the amount of Foreign Tax paid on those
dividends in Box 7.
6.Then a screen will follow asking you the amount of foreign
dividend. If it is strictly Canadian, it will be the full amount.
7. Then it asks, these foreign dividends are from other source. You will select that and then a drop down will appear where
you can select Canada. Here is what the screen looks like illustrating this.
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