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Deductions & credits
To report the income from the Swedish banks, go to the wages and income section and under the 1099 area bring up a blank 1099-INT for each bank. Insert the payer's name, the amount in box 1 and the tax paid in box 6.
Then add up all the foreign tax paid on all interest and dividends and compare that to the foreign tax paid on the pension. The greater amount of tax paid will be used for Copy1 and the lesser for Copy 2 as Copy 1 should yield the greater tax credit. Advise when this is done.
March 26, 2025
10:01 AM