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Level 2
posted Feb 22, 2020 4:57:05 PM

Do I need to enter the dividends of mutual funds from my foreign account? Where should I enter it? I tried to use 1099-Div, but I don't have FEIN for it. Thank you.

If I just enter everything except FEIN, the system asks me to review. But what should I actually do to review it, since I don't have FEIN.

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5 Replies
Level 15
Feb 22, 2020 7:19:37 PM

@kuomoutax , assuming that you are  US citizen / Resident / Resident for tax purposes , just tell TubroTax that you want to report Dividends and that you do not have a 1099-DIV  i.e. pretend that you are entering from a broker's  consolidated statement. Then  you enter the person/entity  name issuing the dividend  and go on from there  -- leave the FEIN part out and Turbo should accept this  because you do not have a 1099-DIV.

 

Are you saying the account is in a foreign financial account / foreign broker managed mutual fund ?  Which country ?  Note that  if the account is in a different country and  broker is not registered in the USA,  then  FBAR and FATCA may be involved 

Level 2
Feb 22, 2020 9:35:47 PM

Thanks PK!

Once I entered all the info into TurboTax's 1099-DIV and left FEIN blank, the system says this entry needs review, which is different from other entries with FEIN entered. What should I do with the "Review"? Thank you!

Level 15
Feb 23, 2020 7:50:57 PM

@kuomoutax , I am familiar only with desktop version --- but in my case  , instead of importing the 1099-DIV, I chose  "I will enter myself" -- this  brings up a series of boxes  ( and with checking "my form has more boxes " ) where in I enter each item by hand -- there is no box asking for FEIN , just the name of the institution.  I tries including foreign taxes paid and  it worked as expected.  No issues anywhere.  I ran the federal  check and  there are no errors found.

 

What version are you using?   Perhaps  you need to delete the entry  ( even though it will show  zero and blank but the line appears  to still remain. Just add another dividend and enter everything by hand  --- put a name  in the box that asks  for  details of the issuer  ( I think it uses Box #1 ).  follow  all the screens  and  see if you can pass the  federal  review.  I am using  Home  & Business desktop version

Level 2
Feb 26, 2020 11:14:41 AM

@pk, thanks for your response! I use my laptop for TurboTax, not sure if it's the same version you mentioned. Where can I choose what version to use? Where can I find "I will enter myself"? I can only see 2019 TAX -> Wages and Incomes -> Dividends on 1099-DIV -> Edit/Add, and then the only choice I have is "Add another 1099-DIV".

 

Besides, should I report the dividends by the name of individual mutual fund or just by the broker?

 

Thank you so much!

 

Expert Alumni
Feb 28, 2020 10:47:05 AM

You can report the dividends by the broker you do not need to report each individual mutual fund amount.