topic Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the screens to report Foreign-Sourced Income under "Wages & Income." in Deductions & credits

Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the screens to report Foreign-Sourced Income under "Wages & Income."

bborowski — Wed, 15 Apr 2020 00:23:34 GMT

This includes the screen to report which country you received the dividend income from?

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

ThomasM125 — Wed, 15 Apr 2020 01:08:54 GMT

You may need to enter the foreign income in the foreign tax section of TurboTax, but only if your foreign taxes reported on form 1099-DIV or 1099-INT exceeds $300 (single) or $600 (married filing joint.)

You will find the foreign taxes section in the Deductions and Credits area of TurboTax, under "Estimates and Other Taxes Paid":

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

bborowski — Wed, 15 Apr 2020 15:53:04 GMT

I have reviewed the Foreign Taxes Paid section in Deductions and Credits and it also doesn't show me the screen to report foreign earned income. The amount of foreign tax paid is low and does show accurately under Deductions and Credits, I want to report the amount of foreign sourced income from my 1099-DIV. I was able to report it on my 2018 taxes and below are the screens I used, but TT isn't showing me these screens for this year:

I thought these screens should be prompted under the "Income" section when you complete the 1099-DIV. If your total ordinary dividends and qualified dividends are not above a certain amount, does are you not required to report? Thanks for your help!

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

DaveF1006 — Wed, 15 Apr 2020 18:31:56 GMT

What is your $2475 foreign earned income from? If this was strictly income from your Div, you may not need to report it anywhere unless there is a Form 1116 filing requirement. How much was your foreign tax credit? If less than $300, you do not need to report your income because there is no Form 1116 filing requirement. I will wait for your answer.

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

bborowski — Sat, 18 Apr 2020 18:19:39 GMT

@DaveF1006: Appreciate your help!

The screenshots were just examples and not my actual tax situation. My foreign earned income is all from one investment account, specifically 1099-DIV. It is $85.83 of foreign sourced income for ordinary dividends and $20.51 in qualified dividends that were included on those respective boxes on the 1099-DIV. Also, there was $2.55 in foreign tax paid. Where do I report this foreign sourced dividend income as TT doesn't show me the screens I showed above? I have already accounted for the $2.55 in Foreign Tax paid under the Foreign Tax Credit in "Deductions and Credits." Just concerned about properly reporting the foreign sourced income. Thanks!

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

vivianusa — Sat, 30 Jan 2021 03:43:34 GMT

Does this answer still support 2020 tax return. I have the page "Foreign income and taxes summary" from TDAmeritrade, my tool foreign source income is $2600, tax paid $20.27, how to report the foreign income?

thank you!

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

vivianusa — Sat, 30 Jan 2021 03:46:12 GMT

it's all from 1099-DIV

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

JeffreyR77 — Sun, 31 Jan 2021 21:49:47 GMT

You are not required to report the foreign source if your foreign tax paid is less than $300. Make sure you check the box that says 'My form has info in other boxes (this in uncommon)' Enter the information into TurboTax from your 1099-DIV and TurboTax will calculate a foreign tax credit for the tax you paid.

Foreign Tax Credit

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

vivianusa — Sun, 31 Jan 2021 22:57:16 GMT

Thank you, I figure it out, very helpful.

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Lorraine55_ — Sun, 18 Apr 2021 00:14:10 GMT

I need help to report my freign source income.

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

LinaJ2020 — Wed, 21 Apr 2021 19:18:35 GMT

If this is wage related, here are the steps:

In TurboTax online,

After sign into your account, select Pick up where you left off
At the right upper corner, in the search box, type in foreign income and Enter
Select Jump to foreign income
Follow prompts

After you enter the information, if you qualify for a foreign earned income exclusion, the program will prompt you to continue to the Foreign Income Exclusion section. It will generate a Form 2555. To qualify, you have to live outside the United States for at least 330 days during 12 consecutive months. For more information, please see Foreign income and exclusion and Extension.

If this is 1099-DIV related, enter under Other Income. Here are the steps:

In TurboTax online,

Sign into your account, select Pick up where you left off
To the right upper corner, in the search box, type in "other reportable income" and Enter
Select Jump to other reportable income
Next screen, Other Wages Received, select No to continue
Next screen, scroll down all the way to the bottom, under Other reportable income, select Start
Next screen, Any Other Taxable Income? select Yes to continue

@Lorraine55_

topic Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the screens to report Foreign-Sourced Income under "Wages &amp; Income." in Deductions & credits

Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the screens to report Foreign-Sourced Income under "Wages & Income."

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

Re: Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the scr...

topic Do you have to report foreign-sourced income from 1099-DIV? TurboTax isn't showing me the screens to report Foreign-Sourced Income under "Wages & Income." in Deductions & credits