I received dividends from overseas and received no 1099-DIV form. How do I report income from the dividends and the taxes that were paid to a foreign government?
Sincerely,
JJ
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You should post the foreign dividend report as if it was a 1099-DIV.
To manually post a 1099-DIV
You will then have to file for the Foreign Tax Credit
Make sure you've already entered all your foreign income.
In most cases, taking the credit works out better than the deduction.
We'll help you decide which one's best for you when you go through this section.
If you choose to take the credit (most people do), we'll attach Form 1116, Foreign Tax Credit, if your situation requires it.
Note: You won't be able to take a credit or deduction for taxes paid (or accrued) on excluded foreign earned income or housing. This is because excluded income and housing isn't taxed in the first place.
Reminder: When you're in TurboTax, and you're not sure of something, select the (?) next to the topic for more information.
If this does not completely answer your question, please contact us again and provide some additional details.
Thank you!
JJ
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