- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
My suggestion is this. Instead of reporting this in the dividend section, report it here to bypass the FEIN requirement.
- Navigate to Federal > Wages & Income.
- Scroll down to Less Common Income and select Miscellaneous Income, 1099-A, 1099-C.
- Select Other reportable income (at the bottom of the list).
- Answer Yes to "Any Other Taxable Income?"
- Enter a description (e.g., "Foreign Dividends - [Bank Name]") and the amount in U.S. Dollars
If you are claiming a Foreign Tax credit report in the following manner.
- Go to Deductions & Credits > Estimates and Other Taxes Paid.
- Select Foreign Taxes and click Start.
- When asked "Do you want the deduction or the credit?", select Take a Credit.
- As you navigate through the screen, Select Passive Category Income (this is the category for dividends and interest).
- Country Selection: Choose the specific country where the bank is located. if you aren't sure, pick RIC if from a mutual Fund or various.
- Gross Income: Enter the same gross dividend amount you entered in Steps 1 when you get to this section
- Ignore the expenses and the other information listed in this section.
- Taxes Paid/Accrued: Select Paid and enter the date (usually 12/31/2025 for the full year's total).
Simplified Limitation: If TurboTax asks if you want to use the "Simplified Limitation Election," say Yes—it saves you from complex math regarding "itemized deduction apportionments."
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
February 24, 2026
2:36 PM