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For a $312 tax credit it asks for foreign income

For my Fidelity brokerage account 1099-DIV it has foreign tax paid of $312. This is for various countries. Turbotax wants me me to enter the foreign source income for this, but the tax statement doesn't give me this. What do I enter?

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2 Best answer

Accepted Solutions
JulieS
Expert Alumni

For a $312 tax credit it asks for foreign income

You can enter RIC (Regulated Investment Company) for the country.

 

If your 1099-DIV detail statement  doesn't specify the amount of the foreign source dividend, you can just enter the same amount as what is in box 1 of your 1099-DIV form. 

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DianeW777
Expert Alumni

For a $312 tax credit it asks for foreign income

Your statement should give some kind of percentage of dividends that are from foreign sources.  If not, you should assume that there had to be enough to create $312 of foreign tax payments.  As our awesome Tax Expert @JulieS indicated, you could use the full amount if you are unable to get some breakdown from Fidelity. 

 

They definitely have the detail you need. This link provides details on where you look on your supplemental statements for the information.

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4 Replies
JulieS
Expert Alumni

For a $312 tax credit it asks for foreign income

You can enter RIC (Regulated Investment Company) for the country.

 

If your 1099-DIV detail statement  doesn't specify the amount of the foreign source dividend, you can just enter the same amount as what is in box 1 of your 1099-DIV form. 

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

For a $312 tax credit it asks for foreign income

It is not a RIC which applies to mutual funds. It is various. So I should just list my total dividends even though that is obviously way way too much?

DianeW777
Expert Alumni

For a $312 tax credit it asks for foreign income

Your statement should give some kind of percentage of dividends that are from foreign sources.  If not, you should assume that there had to be enough to create $312 of foreign tax payments.  As our awesome Tax Expert @JulieS indicated, you could use the full amount if you are unable to get some breakdown from Fidelity. 

 

They definitely have the detail you need. This link provides details on where you look on your supplemental statements for the information.

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

For a $312 tax credit it asks for foreign income

Vanguard and TIAA both give the foreign income, but fidelity doesn't in spite of what their important Tax information page says, so I will use the total dividends.

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