topic Canada 1099-DIv in Get your taxes done using TurboTax

Do we need to upgrade ,if we have a 1099-Div form coming from Canada? Per your instructions the upgrade is necessary for form 1116,which we do not have.

rmkeen64 — Tue, 09 Feb 2021 23:29:54 GMT

The company is in care of AST, Brooklyn, NY. On the 1099DIV the taxes paid are shown as Foreign tax paid in box 7

Re: Do we need to upgrade ,if we have a 1099-Div form coming from Canada? Per your instructions t...

ThomasM125 — Thu, 11 Feb 2021 00:26:52 GMT

Form 1116 is the Foreign Tax Credit form. If you didn't pay any foreign taxes on the dividends, or if they were less than $300 ($600 joint), then you don't need the form 1116 on your tax return.

Canada 1099-DIv

DBouw11 — Sun, 03 Apr 2022 19:12:54 GMT

I have an Enbridge 1099-DIV with a Canadian Postal Code which the software will not accept. I have tried to override but cannot. Do I have to buy the more expensive software for this? Enbridge is not a small company so there must be others in the same position as I

Canada 1099-DIv

DBouw11 — Sun, 03 Apr 2022 19:20:01 GMT

Re: Canada 1099-DIv

anguillidae — Fri, 17 Mar 2023 02:34:54 GMT

I have the same issue. TurboTax Premier On-line won't accept my Enbridge 1099-Div because it doesn't allow a non-US postal code. There doesn't seem to be a way to drill into the form to enter Canada in the Foreign Country box.

Re: Canada 1099-DIv

HopeS — Fri, 17 Mar 2023 13:26:32 GMT

Please clarify your question. Which Form are you trying to complete?

Please be aware that if you paid foreign tax you can choose to take this as a deduction or a credit. You will not need Form 1116 if you are taking it as a deduction.

Below are the steps to Enter a Foreign Dividend.

Log back into TurboTax and go to the Federal interview section of the program.

Select Income & Expenses
Scroll down to All income
Select Dividends on 1099-DIV
Select Edit to the right of the applicable 1099-DIV form
The next page will say Let's get the info from your 1099-DIV. Scroll down to the writing below Box 1b - Qualified Dividends.
You should see a box that you can check that says My form has info in other boxes (this is uncommon).
Once you check this box, you will be able to enter the Foreign Tax Paid as listed in Box 7 of your 1099-DIV form.

@anguillidae

Re: Canada 1099-DIv

Critter33 — Fri, 17 Mar 2023 13:41:31 GMT

First you do NOT need to enter the foreign tax paid if you do not wish to get credit for them.

Next you do NOT need to enter anything but the payer's name for interest or dividends ...

Re: Canada 1099-DIv

anguillidae — Fri, 17 Mar 2023 13:42:35 GMT

So the problem arises when I try to finalize my return so that I can file it on line. TurboTax goes through the review process and notices that the zip code and state for a dividend payer are missing on Schedule B. But the dividend payer is a Canadian company (Enbridge). It has a postal code but not a zip code, and it's in Ontario, not a US state. There doesn't seem to be a way for me to tell TurboTax that this is a Canadian company. Because of this glitch I may have to file a paper return rather than filing on line. I'm using TurboTax Premier On-line.

Re: Canada 1099-DIv

HopeS — Fri, 17 Mar 2023 14:17:06 GMT

Try deleting Schedule B and reentering the information.

Under Tax Tools, choose Tools.
Choose Delete a Form.
Delete Schedule B
Confirm that you wish to delete the form.

Clear the Cache before logging back into TurboTax.

How to Clear Cache

Please send another message if this does not work.

@anguillidae