Foreign dividends and sold stocks

[seke]

How can I enter dividends and sold stocks from foreign sources which have no 1099-DIV or Form 1099-B?

[DianeW777]

You can enter the income by adding dividend income and sales of investments. 

• Form 1099-DIV is reported in TurboTax under the Investments Section of Income on its own dedicated section. Enter your 1099-DIV.  Enter the name of the payer and the dividend amount. Refer to the TurboTax article: Where to report 1099-DIV in TurboTax Online?

Report the sales of stock using the steps below.

To enter your sale in TurboTax, follow these steps. Click this link for more information. Where do I enter Investment Sales?

1. Open or continue your return.
2. Navigate to the investment sales section:
   • TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
   • TurboTax Desktop: Search for investment sales and then select the Jump to link. 
     • Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
3. Answer Yes to the question Did you sell any of these investments in 2024? (or Okay! to Time to kickoff your investments!).
   • If you land on  the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.

Next enter your foreign tax credit or deduction.

• Where do I enter foreign tax credit (Form 1116) or deduction?

[pk]

@seke , you generally enter these  incomes just as if you had the  1099s.  Thus you  tell TurboTax that you have  dividend income to enter but do not have a 1099-div.  You should be able to enter these  without  the "EIN" of the providing entity.

Ditto for  stocks etc. sold. -- you have provide the details about the  basis ( acquisition cost ) , the holding period  and  the selling price.

 To be able to claim Foreign Tax Credit  ( if these incomes were taxed  by a foreign govt. / taxing authority ) and if there is a Tax Treaty between the US and that other country  ( and there is  a double taxation clause ), that foreign tax may be eligible for Foreign Tax Credit.

Note that some treaties  limit  the  tax rate instead.

So need to know which country are we talking about.

Also depending on exact facts and circumstances , you may be  subject to FBAR and/or FATCA regulations.

[seke]

Thanks for the reply.  However, adding dividends requires selecting the 1099-DIV option and that requires a FEIN, which is not available for foreign accounts.  

The 1099-B option does not require a FEIN but DOES specify that I have a 1099-B form, which I do not.

Is there another option in Turbo Tax for these foreign account situations.

[seke]

I get an error which proceeding without entering a FEIN.

[seke]

I have the Premier version of Turbo Tax.  Does anyone else see what I experience?

[pk]

@seke , I just entered a large amount of dividend as income  from a foreign bank  -- needed name, no EIN entry and passed all checks.  I am using  Windows download Home & Business.  

 If nothing works you can always use obviously fake  EIN like  12-3456789.

Don't know what more I can do for you 

[wwww1]

i have the same problem too. I do not have a 1099-b to send. Did you figure out what to do? Thanks!

[pk]

@wwww1  do you still need help ?  Does  my answer above  no work for you ?