- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I paid less than a dollar in foreign taxes on 1099-DIV. I am given the option to skip the credit, but it is still showing as a $1.00 credit requiring me to file a 1040.
For 2017, I had a small brokerage account with Vanguard - and paid less than a dollar in foreign tax, reported in box 6. I see the option to skip the credit when in the tutor, but it's forcing a credit of $1.00 regardless requiring me to file a form 1040 - this is not necessarily how I wanted to go about this. Am I required to report this tax EXACTLY as it appears on my 1099-DIV, I have seen answers here that allude to using 0 in box 6 in cases like mine but I don't feel comfortable with that. I'd rather forgo the tax credit, as the amount is almost negligible in my case and file simply with a 1040EZ.
Is this an issue/bug, or am I absolutely required to claim a credit, no matter the amount? I realize a form 1116 is not applicable in my case, as I am single and under the $300 limit.