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Retirement tax questions
Thanks @DaveF1006 I think that took care of it. But I just want to make sure I answered the interview correctly.
I need to use the simplified method on form 1116 for AMT. One of the questions it asks is: All foreign taxes were reported with interest and dividend income only? I said yes, but my 1099-DIV indicates both capital gains and dividends for one of the foreign funds. Is it correct to answer yes? TT only seems interested in Box 1a, ordinary dividends.
If I answer No, it takes me to a page asking about qualified dividends and long term capital gains. Firstly, my form does not indicate LT cap gains, only cap gains in box 2a, so I don't know what the LT portion is. Secondly I'd have to calculate it since only a portion of my mutual fund income is foreign source, and to try to figure it out would be a nightmare.
Thanks for your help!