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netmouser
Returning Member

Foreign tax and foreign dividends problem

My 1099-div has an amount for field 7. foreign tax paid.  I entered 382.59.  I continue.    For Uncommon Situations I enter None.   I continue.   An error says to enter foreign dividends received.    I have mutual funds RIC checked.    I do not see anything in the detail except for a few lines like the following.   So, do I just add up the few lines like this (-76.63) to get the total foreign dividends?    All the other lines do not have a negative number like the foreign ones do.  So very confusing.

 

06/20/25    -76.63   Foreign tax paid-Various   03

 

 

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3 Replies
DavidD66
Employee Tax Expert

Foreign tax and foreign dividends problem

Different financial institutions report the details of dividends differently.  There should be some information for each mutual fund that paid a dividend that shows both the different types of dividends (total, ordinary, 199A, foreign, and the amount of foreign tax paid).  You want the amount of foreign dividends that resulted in the foreign tax being paid, not the tax - you already have that from box 7.  The amount of foreign dividends must be greater than the foreign tax paid. 

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netmouser
Returning Member

Foreign tax and foreign dividends problem

I'm showing the only foreign related dividends on the form's detail.   And the amounts are negative.  I need someone who can tell me what to do with this.

DavidD66
Employee Tax Expert

Foreign tax and foreign dividends problem

If the amounts you are referring to total more than the amount of foreign dividends in box 7 I would use it.  Given the amount of your foreign tax paid, it's not going to make any difference in your total tax if the amount of foreign dividends you enter is off somewhat.    

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