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foreign dividend/income

Celeste526 — Sat, 28 Mar 2020 20:50:57 GMT

I received 1099-div I have total in box 1a and 1b for dividends; then in box 7 total foreign tax paid. No other info. How do I find foreign income? Is it total in box 1a or 1b?

Re: foreign dividend/income

ColeenD3 — Sat, 28 Mar 2020 21:46:20 GMT

Please see this answer from macuser.

If the 1099-DIV has a box 7 foreign tax then you should enter the portion of box 1 that generated the foreign tax. Often that will be the box 1 amount if all the foreign tax came from the same source but in the case of some mutual funds only a portion of box 1 will be what generated the foreign tax. Most brokers list the foreign tax and the source of that tax somewhere in the composite statements that they send.

Re: foreign dividend/income

dahliacilantro — Tue, 31 Mar 2020 16:53:33 GMT

Further question, does this mean that since the foreign income in the brokerage statement doesn't match 1099DIV lines 1a and 1b that I subtract them from lines 1a and 1b and report instead under foreign income earned?