topic 1099 B shows Foreign Tax Paid as negative in Deductions & credits

1099 B shows Foreign Tax Paid as negative

RBM23 — Sun, 23 Feb 2025 15:01:43 GMT

My 1099 B Line 7 shows an amount for Foreign Tax paid, but detail shows negative (Paid/adjusted in 2025 for 2024). Turbo Tax is asking for the portion of total dividends that are from a foreign country. HELP!!

Re: 1099 B shows Foreign Tax Paid as negative

ThomasM125 — Sun, 23 Feb 2025 15:26:09 GMT

You won't be able to enter a negative foreign tax paid when you enter the dividend into TurboTax. If the adjustment applies to 2025, wait and report the tax in that year.

Re: 1099 B shows Foreign Tax Paid as negative

RBM23 — Sun, 23 Feb 2025 18:42:18 GMT

Can you be a little more clear? The heading for the column says "Paid/Adjusted in 2025 for 2024". What do I enter in TurboTax when asked "Foreign Dividends Received"?

Re: 1099 B shows Foreign Tax Paid as negative

SusanY1 — Sun, 23 Feb 2025 19:15:32 GMT

There should be supplemental information on the 1099-B in the "Dividend details" that provides either the dollar amount or percentage of your dividends that were from foreign sources. Use this number to answer the question about the amount of foreign dividends received.