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Investors & landlords
Yes, the amounts for gross income and qualified dividends should have already been reported on a K-1, as well as the foreign tax paid.
Go to Box 14 and in the drop down, be sure the foreign tax paid is reported with a code B, from the drop down. There should be a dialogue box that should open after that asking what country these were reported and then report the $253 as Gross Income Sourced at the Beneficiary Level: Foreign Source income as well as Gross income sourced at the beneficiary level. I would assume there was no source income-US sources. if there was, it would be put in a disclosure statement. The point is that the Gross income sourced at the beneficiary level= US sources + foreign sources.
If you don't know the country, pick various. The qualified dividend amount should have been already reported in Box 2B in the k-1. Then the income category should be passive.
As far as deductions,expenses, losses etc. that follow, ignore that part unless you have specific information to record there that you know about. For the $19, it isn't worth the bother.
Now if all of this is reported like it should be, your $19 foreign tax credit will be reported in Line 1 of Schedule 3 and Line 19 on the 1040. There is no need at this point to claim a foreign tax credit because it is already claimed in your k-1.
I hope this helps.
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