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Foreign Tax Paid

I’m a US citizen and have imported data from my brokerage but don't see an amount entered under "Estimate and Other Taxes Paid" for Foreign Tax. The imported forms include only 1099-B and 1099-DIV. Should I manually enter the foreign tax paid amount from the 1099-DIV summary under "Estimate and Other Taxes Paid"?

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1 Reply
DavidD66
Employee Tax Expert

Foreign Tax Paid

No.  Amounts listed under "Estimate and Other Taxes Paid" is federal income tax paid.  Foreign tax paid will appear on Form 1116 - Foreign Tax Credit, if required.  A credit for Foreign Tax Paid will appear on Schedule 3 of Form 1040, line 1.  This credit will flow to Form 1040, line 20.  You can review your Form 1040 as follows:

 

  • Click on Tax Tools, then Tools from the left side of screen under Tax Home
  •  Select "View Tax Summary"
  • On the left, select "Preview my 1040"
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