Investors & landlords
If this is for a trust account, qualified dividends are entered in Box 2B in your K-1 entry in the return. The foreign taxes paid are recorded in Box 14 with a code B. In Box 14, you will select the drop down arrow and select B , then record the amount.
When you prepare your foreign tax credit, this information should populate as you prepare your credit, assuming you prepared your K-1 prior to claiming the foreign tax credit. the $19 credit is already reported if you prepared the K-1.
Scroll and report the entries until you reach a screen that says No other income or Expenses. Here if it asks do all the following apply to your foreign income and expenses, select yes. This will avoid the additional questions such as deductions Allocated and Apportioned at Beneficiary Level Applicable Losses, Foreign Taxes Accrued, Reduction in Taxes Available for Credit etc. This is not necessary to claim the $19 foreign tax credit. Here is what the screen should look like.
Just make sure you complete the k-1 first before claiming the foreign tax credit.
