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Level 4
Mar 8, 2020 4:51 PM UTC
Question

DIVIDEND INCOME

I HAVE A 1099-DIV FROM ENBRIDGE INC.  THEY ARE IN CANADA. AND I WANTED TO KNOW FOR THE QUESTION OF DO I HAVE AN INTEREST IN OR SIGNATURE AUTHORITY OVER A FINANCIAL ACCOUNT IN A FOREIGN COUNTRY SUCH AS BANK ACCOUNT SECURITIES ACCOUNT OR OTHER FINANCIAL ACCOUNT.  DO I ANSWER THIS YES OR NO? THANK YOU. 

    2 replies

    KathrynG3
    Alumni - Intuit
    Mar 8, 2020 5:17 PM UTC

    It depends. This question applies to people with vlues exceeding $10,000 at any time durin ghte calendar year. This would require filing the FBAR (FinCen 114).

     

    For income reported to you on Form 1099-DIV, report it in the Dividends section. For any foreign tax paid to Canada, follow these steps to enter the details for foreign tax paid.

    Level 4
    Mar 8, 2020 6:33 PM UTC

    Okay it is not more than that thank you.