DaveF1006
Expert Alumni

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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