Thanks for your reply, and for the information on foreign qualified dividends.
I understand that the requirements for foreign qualified dividends reported in the 1099-DIV for preferential tax rate purposes are different than the requirements for foreign qualified dividends used for foreign tax credit purposes.
However, in the case of one ETF, more than 50% of the holdings in the fund are in countries with tax treaties (e.g. Canada, UK, Australia, Finland, France, India, Norway, Japan, Sweden, South Africa, China, Switzerland). Only three of these are considered emerging market countries (India, South Africa and China). If I exclude them, the holdings are still more than 50%. It seems odd that none of the dividends are qualified for foreign tax credit purposes.
Your point about the IRS mismatch notices is well taken. I am trying to report the correct information by confirming what the correct information is. Unfortunately, the brokerage statement has a disclaimer regarding the information not necessarily being complete or final. As a result, it calls into question whether a zero means zero or no information. Also, my understanding is that the supplemental information is not reported to the IRS, possibly because it is subject to change.
Your suggestion makes sense. I will follow it accordingly. Thanks for your assistance.
