topic Consolidated 1099 in Get your taxes done using TurboTax

Consolidated 1099

Sorakairi89 — Mon, 09 Mar 2026 08:45:03 GMT

When receiving a 1099-DIV, is foreign income usually included on line 1a and 1b of form 1099-Div?

If so, is there anything else you need to report with it? (As in seperating the amount from regular dividends or stating that it was foreign income)

Re: Consolidated 1099

ThomasM125 — Wed, 09 Mar 2022 00:21:32 GMT

The foreign income would be included in the amount on line 1(a) or 1(b). You may need to report the foreign income if you apply for a foreign tax credit, otherwise no. However, if your foreign taxes reported on your form 1099's is less than $300 ($600 if married-filing joint) you don't need form 1116 to receive a foreign tax credit and aren't required to report your foreign income.

If your foreign tax is more than $300/$600, then you can use the Foreign Taxes routine in TurboTax, in the Estimates and Other Taxes Paid section in the Deductions and Credits section to enter your foreign income and apply for the foreign tax credit.

Re: Consolidated 1099

Sorakairi89 — Wed, 09 Mar 2022 01:34:15 GMT

My foreign tax paid from box 7 was less than $300.

So all I need to do is just report my line 1a and 1b, and I don't have to report anything separate or anything else related to foreign income, correct?

Re: Consolidated 1099

DaveF1006 — Wed, 09 Mar 2022 02:18:33 GMT

Yes, and don't forget to report your foreign tax paid in Box 7 of the 1099 DIV.