Business & farm

" Foreign tax paid from 1099-DIV.  Simple trust has 100% income paid to beneficiary."

 

In that particular scenario, the foreign taxes paid should be passed through to the beneficiary. 

 

The beneficiary's K-1 will show the gross amount of dividends received and the foreign taxes paid will have already been actually paid (essentially deducted) directly from that total by the payor of the dividends.


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