1099-DIV Foreign Tax Credit

GregW1 · ‎February 16, 2022

I have foreign taxes paid on individual stocks and an RIC. TurboTax only has a choice of one or the other. How do I handle this?

JulieS · ‎February 16, 2022

If your individual stocks are held by a broker that is an RIC (Registered Investment Company), you can just select RIC for all of the foreign income and tax.

If you have separate 1099-DIV forms for the individual stocks, you can select the country of origin for each 1099-DIV.

It may help to know the purpose of this question is make sure you are not taking a credit for taxes paid to a country that supports terrorism. So if you have your investments with a company like Fidelity, you can use RIC for the source even if your details shown France or Germany, for instance.

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View solution in original post

JulieS · ‎February 16, 2022

If your individual stocks are held by a broker that is an RIC (Registered Investment Company), you can just select RIC for all of the foreign income and tax.

If you have separate 1099-DIV forms for the individual stocks, you can select the country of origin for each 1099-DIV.

It may help to know the purpose of this question is make sure you are not taking a credit for taxes paid to a country that supports terrorism. So if you have your investments with a company like Fidelity, you can use RIC for the source even if your details shown France or Germany, for instance.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1099-DIV Foreign Tax Credit