pk
Level 15
Level 15

Business & farm

@Bob-777 , hello, I saw your question recently but it was more than three weeks old and so assumed  that you did not need help anymore.  Let me look into this and will be back  shrotly.

What I understand is that  (a) you have  dividends  with foreign taxes paid from three sources ;  (b)  some is reported as qualified ; (c)  you report these  i.e.  two RICs, one foreign but with qualified divs ; (c) the resulting  1116 does not look right and does not match  the 1099-div.

 

Please can you confirm  --  1.  Box 1(a) shows total dividend;  1(b)  shows  qualified  dividends .  2.  Box 7 shows the total foreign taxes paid;   3.  Box 8 shows the foreign countries  where foreign taxes  were paid.  4. Do you have information on the foreign incoke associated with these foreign taxes  -- either direct info from  broker or per the information sheets  when you are using broker statement -- for  Mutual funds often you will see this a percentage  of investment / income total.

 Also note that mostly foreign entities declaring dividends are  NOT qualified  dividends .

 

Please answer my questions while I look at your issue 

 

pk